New Zealand company, which owns Mr Apple and most of Fern Ridge Fresh, reconfirms profit forecast for 2026
New Zealand apple exporter Scales Corporation, which owns Mr Apple and has a majority stake in Fern Ridge Fresh, says it has seen a “positive” level of business over the first five months of the year.
It confirmed in a statement that it expected to achieve underlying net profit after tax in the range of NZ$50mn to NZ$55mn for the twelve months to 31 December.
Managing director Andy Borland commented: “Trading across the group has been positive for the first five months of the year, with financial performance across all divisions at expected levels, despite the impact of the Iran war.”
He added: “In the Horticulture division, picking has been completed at Mr Apple, with the gross pick, of 4.7mn [twenty-foot container equivalents], being above expectations.
”The forecast packout rate is 77 per cent, which is lower than FY25 due to the impact of a number of weather events during the growing season. Pricing is currently running to forecast.”
In its Global Proteins business, Scales faces a challenge related to its European joint venture partner’s subsidiary, Esro Vlees, being placed into receivership following an investigation by the Netherlands Food and Consumer Product Safety Authority.
“This has created challenges and disrupted operations for our joint venture, Esro Petfood,” Borland admitted. “We are working hard to restore normal trading for this business.”
