Scales Corp has released its interim results of the first half of 2015, reporting an after tax profit of NZ$33.2m, up 59 per cent compared to the same period in 2014.
With apple export volumes up 14.6 per cent compared to the 2014 financial year, the strong performance of its subsidiary Mr Apple has been cited for the profit growth.
“The result reflects strong performance across all divisions and particularly the vertically integrated Mr Apple business, which exceeded expectations across its operations from orchards, packhouses, coolstorage and export marketing,” said managing director Andy Borland in a company statement.
Borland expects Scales’ full year results to by up 25-35 per cent on its EBITDA prospectus forecast of NZ$41.2m for the 2015 year.
On top of its horticulture division, Scales Corp also operates a storage and logistics division, as well as a food ingredients division, employing more than 400 staff across New Zealand.