Scales Corporation – Market Update

Scales Corporation Limited
Head Office: 52 Cashel Street | Christchurch 8013 | New Zealand
Postal: PO Box 1590 | Christchurch 8140 | New Zealand
Phone: +64 3 379 7720
scalescorporation.co.nz





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:
• The Horticulture division is expected to deliver a resilient result in light of challenging growing
conditions.
• Scales’ other divisions are expected to deliver a result that is, in aggregate, consistent with if
not slightly better than 2016.
• Good performance from recent acquisitions Longview and OceanAir.
• 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

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ORDINARY SHARESNZSCLE0002S8
EMAIL: announce@nzx.com
Notice of event affecting securities
SCALES CORPORATION LIMITED
STEVE KENNELLYDIRECTORS RESOLUTION
64 3 37122635122017
Enter N/A if not
applicable
In dollars and cents
$0.09000
NIL
NZD$0.015882
$12,645,926.28
Date Payable
19 January, 2018
$$0.006250$0.035000
$
10 January, 201819 January, 2018