Wednesday, 22 August 2018

Announcement

MKTUPDTE: SCL: Scales Corporation - Market Update

05 Dec 2017 11:10NZX
5 December 2017

SCALES CORPORATION REAFFIRMS 2017 FORECAST AND DECLARES DIVIDEND

The directors of Scales Corporation Limited (NZX:SCL) have indicated that
EBITDA, for the twelve months to 31 December 2017, is likely to be at the
upper-end of previous guidance provided to the market (for an EBITDA result
of between $55 million and $62 million).
Key 2017 highlights include:
o The Horticulture division is expected to deliver a resilient result
in light of challenging growing conditions.
o Scales'' other divisions are expected to deliver a result that is, in
aggregate, consistent with if not slightly better than 2016.
o Good performance from recent acquisitions Longview and OceanAir.
o Interim dividend of 9 cents per share declared and to be paid on 19
January 2018.  This represents a 12.5% increase on the 2016 interim dividend
of 8 cents per share which was paid in January 2017.
Managing Director Andy Borland says "This is another pleasing outcome
especially taking into account the early headwinds for Mr Apple of a
challenging growing season.  Other divisions have traded well and are
expecting to produce a result that, in aggregate, is consistent with 2016
performance if not slightly higher.  Once again, we are grateful to the
tireless efforts of the entire Scales team."
Looking ahead to the 2018 financial year, the directors have provided EBITDA
guidance for a full year result of between $58 million and $65 million.

About Scales Corporation
Scales Corporation is a diversified agribusiness group.  It comprises three
operating divisions: Horticulture, Storage & Logistics and Food Ingredients.
The company''s diverse spread of activities gives Scales broad exposure to New
Zealand''s agribusiness sector. Scales Corporation was founded in 1897 as a
shipping business by George Herbert Scales.  Today it employs more than 600
staff New Zealand wide.  Find out more at www.scalescorporation.co.nz.

Contact
Andy Borland, Managing Director, Scales Corporation Limited, Mob: 021 975
999, email: andy.borland@scalescorporation.co.nz
End CA:00311430 For:SCL    Type:MKTUPDTE   Time:2017-12-05 11:10:45
Views: 145
Scales Corporation Ltd
 4.730 Change:
0.00
0.00%
 
Open:4.730 
High:4.730 
Low:4.730 
Volume:0 
Last Traded:07/02/18 09:07:43 
Bid:4.720 
Ask:4.730 
52-Wk High:4.920 
52-Wk Low:3.210