2019 Interim Results announcement

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




Media Release

28 August 2019

SCALES CORPORATION DELIVERS RECORD INTERIM RESULT INCLUDING PROFIT FROM
DIVESTMENTS

Highlights – 6 months to 30 June 2019

• Mr Apple own export volumes significantly ahead of forecast (3,822k TCEs vs forecast of
3,620k TCEs, 2018 – 3,862 TCEs), notwithstanding weather conditions that resulted in a
smaller average apple size.
• Strong performance in Asia and Near Markets, with volume and prices up – especially to
China.
• Continued progress on the Group’s refreshed strategy:
o Settlement of the sale of Polarcold to Emergent Cold.
o Establishment of a New Zealand joint venture petfood operation with Alliance Group.
o Integration of Scales’ 60% acquisition of Shelby Foods.
• A solid result from Food Ingredients whilst integrating the acquisition of Shelby and
establishing the petfood joint venture.

Diversified agribusiness group Scales Corporation Limited (NZX:SCL) today reported its results for
the six months ended 30 June 2019 (1H19). Net profit after tax (NPAT) for the Group was $121.8
million (1H18: $34.8 million). The record profit result includes profits and fair value gains, as a result
of divestment activity, of $93.2 million.

Underlying EBITDA
1
for continuing businesses was $47.3 million, in line with $47.1 million in 1H18,
and Underlying NPAT was $30.1 million compared to $29.4 million in 1H18.

Managing Director Andy Borland commented “We are pleased to deliver a strong result during such a
period of change for our business and team. Our Horticulture division has delivered an excellent
outcome, with apple volumes significantly ahead of forecasts. Total export volumes are likely to be
consistent with the record 2018 crop notwithstanding significant orchard redevelopment in the
intervening period. The result is also impressive given the more difficult growing conditions that
resulted in smaller apples. Our performance in the Asia and Near Markets continue to validate our

1
Earnings Before Interest, Tax, Depreciation and Amortisation

strategy towards premium varieties targeted to those markets. Volumes to those markets, and
particularly to China, are notably up on last year and prices have performed well. A further 85
hectares of orchard are being redeveloped over the 2019 and 2020 winters.”

“The strong performance from these markets is partly offset by a slower start to the Europe market,
which continues to be affected by a larger than normal European crop – however the outlook for the
forthcoming European crop suggests this impact will not extend beyond the current season.”

“Our Food Ingredients division delivered a solid result whilst integrating new trading structures, with a
pleasing first six months of trading from Shelby and one-off profits relating to the establishment of
Meateor NZ, our petfood joint venture. We are beginning to see the benefits of increased
collaboration between the various entities and their stakeholders including sharing of customer
networks and merging of supply chain capabilities.”

“Logistics traded slightly ahead of 1H18, benefiting from additional space and resource and we
anticipate full year results for this business to be in line with expectations.”

Tim Goodacre, Chairman of Scales Corporation noted “We are pleased to reaffirm our previously
announced full year Underlying Net Profit guidance of between $32.0 million and $37.0 million
2

(implying an Underlying EBITDA of between $49.0 million and $55.0 million on a like-for-like basis).
We are proud of the efforts of the Scales team and believe that we can continue to deliver on our
strategy to diversify our operating units to ensure a more sustainable and robust earnings profile”

Scales dividend policy is for interim and final dividends to be split approximately evenly and paid in
January and July. Scales remains committed to its current annual dividend level of no less than 19c
cash per share whilst the company holds Net Cash.

About Scales Corporation
Scales Corporation is a diversified agribusiness portfolio. It comprises three operating divisions:
Horticulture, Food Ingredients and Logistics. The company’s diverse spread of activities gives Scales
broad exposure to the agribusiness sector. Scales Corporation was founded in 1897 as a shipping
business by George Herbert Scales. Today it has operations across New Zealand, Australia and the
USA. 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

2
Before the deduction of Non-Controlling Interests

---

Scales Corporation Limited
Growing your Diversified Agribusiness
Half Year Results
For the six months ended 30 June 2019
28 August 2019

2
Scales Corporation Limited –2019 Half Year Results
1.Highlights
2.Sustainability
3.Group Results
4.Divisional Performance
5.Strategy Update
6.FY19Outlook
Appendices:
I.NZ IFRSReconciliation
II.Disclaimer
Agenda

1
Highlights

4
Operational and Strategic Highlights
•Underlying EBITDA for continuing businesses of $47.3m, in line with 1H18 ($47.1m).
•Apple volumes ahead of forecast (actual export volume of 3,822k TCEs vs forecast of 3,620k TCEs):
Volumes in line with 2018 notwithstanding significant redevelopment and weather conditions that resulted in a smaller average
apple size.
Prices reflective of market dynamics in each geographic sector.
•Solid result from Food Ingredients whilst integrating new trading structures.
Pleasing first 6 months of trading from Shelby.
One-off profits relating to establishment of MeateorNZ (our petfoodJV with Alliance).
•Statutory NPAT of $121.8m, a record result:
Includes $93.2m in profits and fair value gains as a result of divestment activity.
•Solid progress in Strategy Refresh.
Scales Corporation Limited –2019 Half Year Results
Record interim result reflecting profit on divestments

5
Strategy Refresh Update
•A number of milestone achievements during 1H19:
The sale of Polarcoldto Emergent Cold settled in May 2019
following OIO approval.
Establishment of a New Zealand Joint Venture petfood
operation with Alliance in April 2019.
•Our acquisition of a 60% interest in Shelby Foods
(December 2018) is progressing well:
A number of new shared appointments provide both sales and
administrative resource to support further growth for the
Group.
Trading continues well, with sales and earnings for the 6 month
period in line with expectations.
Continued solid performance in implementing Strategy Refresh
Scales Corporation Limited –2019 Half Year Results

2
Sustainability

7
Sustainability Update
•Our carbon footprint, and how we can reduce this, continues to be a key focus. We have established a number of
goals following our inaugural carbon footprint calculation in 2018:
Reduce electricity consumption by 3% and overall fuel use by 5% by 2024.
Reduce waste to landfill by up to 30% by 2024.
Reduce paper use by 10% per annum.
•An Environmental Plan is being developed for Mr Apple with goals that will align with those of the UN. Our initial
focus in on the following 4 UN Sustainable Development Goals:
•Recent EECA
*
audit identified excellent energy management already in place at Mr Apple.
•Creation of a local joint horticulture / council Waste Minimisation Group in Hawke’s Bay.
Identifying recycling opportunities for a number of otherwise disposal items.
Continuing to minimise our impact on the environment
Scales Corporation Limited –2019 Half Year Results
“We need to leave our businesses better for the next generation of managers and owners.”
Andy Borland, Managing Director
* Energy Efficiency and Conservation Authority.

8
Sustainability Developments
Ongoing commitment to being an Employer of Choice
Scales Corporation Limited –2019 Half Year Results
•Health and Safety continues to be a top priority:
Critical risk training undertaken with all Mr Apple permanent staff, will be completed at Balance Cargo and Meateorby the end of the year.
Roll out of the Mr Apple forklift competency framework continues throughout Balance Cargo and Meateor.
Ammonia reviews of all sites undertaken to ensure compliance to the WorkSafeNew Zealand framework.
KPMG Safe+ assessment commenced at Mr Apple and Balance Cargo.
Pipfruitsafety group created to share ideas and minimise risks within the industry.
•Implementation of a number of Governance initiatives:
Follow up business ethics training for Mr Apple and Meateorstaff scheduled for October 2019.
Report It Now ethical hotline launched in August 2019.
Ethics Committee created to manage any hotline calls received.
•Significant investment in both the quantity and quality of
community living environment and infrastructure for our critical RSE
scheme and seasonal workers.

Group Results
3

10
Group Financial Summary
•1H19 results are impacted by the following items:
Divestment of Polarcold, resulting in a gain on sale of $73.0m.
Establishment of MeateorNZ joint venture, giving rise to a $10.1m gain on sale and a further $10.1m revaluation gain.
Implementation of NZ IFRS 16 Leases, which resulted in non-cash adjustments, reducing operating expenses by $5.0m, offset by additional
depreciation expense of $3.9m and additional financing expenses of $1.5 million. Underlying results exclude the impact of NZ IFRS 16 for
comparison purposes.
Record result impacted by both strategic and NZ IFRS changes
Scales Corporation Limited –2019 Half Year Results
* Numbers in the table above are shown before the deduction of share of NPAT for Non-Controlling Interests (Fern Ridge and Shelby) of $1.7m (1H19) vs $0.2m (1H18).
Income Statement
EBITDA
NPAT
$Millions1H191H18% chg.1H191H18% chg.
Underlying47.347.10.5%30.129.42.6%
NZ IFRS & other adjustments:
Discontinued Operations - - - 5.4
Gain on sale - Polarcold - - 73.0 -
Gain on sale - 50% of Meateor NZ10.1 - 10.1 -
Revaluation gain - 50% of Meateor NZ10.1 - 10.1 -
NZ IFRS 16 Leases 5.0 - (0.4) -
Other NZ IFRS adjustments(1.4)(0.3)(1.2)(0.0)
Reported71.146.752.1%121.834.8250.2%

11
Divisional Overview
•Horticulture – higher expected crop with strong sales into Asia endorsing our ongoing strategy to focus on
premium varieties.
•Food Ingredients – a strong performance during a period of change, impacted by one-off inventory
revaluation.
•Logistics – solid performance, continuing to build on existing operations.
•Scales Corporation – benefited from lower transaction costs in 1H19.
Revenue growth within all divisions
Scales Corporation Limited –2019 Half Year Results
Divisional Performance
Horticulture
Food Ingredients
Logistics
Corporate
& EliminationsGroup
$Millions1H191H181H191H181H191H181H191H181H191H18
Total Segment Revenue159.5143.880.745.554.846.2(17.1)(15.5)278.0220.1
EBITDA41.341.35.16.23.12.9(2.1)(3.3)47.347.1
EBITDA Margin26%29%6%14%6%6%12%21%17%21%
EBIT36.937.14.55.92.92.8(2.1)(3.3)42.342.5
EBIT Margin23%26%6%13%5%6%12%21%15%19%
Notes:
1. Prepared on a Continuing Underlying basis. A reconciliation to NZ IFRS is provided in the Appendices.
2. Segment Revenue includes intercompany charges, most specifically within the Logistics division, where Scales Logistics charges Mr Apple and Meateor for shipping.

12
Balance Sheet
•Balance sheet changes reflect the impact of the Liqueo
and Polarcolddivestments, and the sell-down of 50% of
MeateorNZ business to JV partner Alliance.
•Net Cash at 30 June 2019 of $59.0m, an improvement in
Net Debt vs 30 June 2018 of $133.9m, being:
~$195m in proceeds from divestments.
Less:
◦$35m (NZ equivalent) for Shelby acquisition.
◦$26m investment in working capital and capital expenditure.
•Implementation of NZ IFRS 16 Leasesresulted in
additional assets and liabilities of ~$80m.
Significant capacity for investment
Scales Corporation Limited –2019 Half Year Results
Balance Sheet
$MillionsJun-19Jun-18
Dec-18
Current Assets (excluding Cash)
Trade Debtors94.9
73.422.9
Inventory
34.027.845.4
Agricultural Produce59.161.620.5
Other8.35.7
7.3
196.3168.4
96.2
Assets Held for Sale
-
107.797.6
Current Liabilities (excluding Overdraft,
Borrowings, and Dividends Declared)
Trade Creditors & Other Payables(63.4)(57.4)(27.3)
Lease Liability
(9.2) - -
Other(23.6)(21.9)(6.5)
(96.3)(79.3)(33.8)
Liabilities assoc. w/Assets Held for Sale - (18.3)(19.3)
Net Working Capital100.0178.5140.8
Non-Current Assets
Property, Plant & Equipment146.7133.4150.6
Other Non-Current Assets75.027.257.1
Right of Use Asset80.5 - -
302.1160.7207.7
Capital Employed402.2339.2348.5
Non-Current or Other Liabilities
Deferred Tax Liabilities(10.5)(8.7)(15.6)
Other Financial Liabilities(5.5)(5.6)(7.5)
Dividends Declared(13.3)(12.5)(13.3)
Lease Liability(71.7) - -
(101.1)(26.8)(36.4)
Net Debt
Cash less Overdraft123.81.8(1.0)
Cash in Assets Held for Sale - 4.36.7
Borrowings(64.8)(81.0)(68.0)
Net Cash / (Debt)59.0(74.9)(62.2)
Total Equity360.1237.5249.9

Divisional
Performance
4

14
Horticulture – Volumes
•Excellent crop with Mr Apple total own grown export volumes of 3.8mTCEs:
On par with 2018 volumes and ahead of 2019 forecast volumes, notwithstanding the ongoing orchard redevelopment programme.
Export packout of 79%, ahead of 2018 packout of 76%.
•Weather conditions resulted in smaller than average apple size:
Consequent impact on pricing for certain traditional varieties, with softer demand anticipated for the end of the season.
Validates ongoing redevelopment of these orchards.
•10% increase in Premium Variety volumes:
Includes inaugural sales of Posy
TM
and Dazzle
TM.
Pleasing18% growth in NZ Queen.
2019 volumes ahead of forecast, markets mixed
Scales Corporation Limited –2019 Half Year Results
Mr Apple Own Export Volumes (TCE000s)Growth in Premium Volumes (TCE000s)
741
1,059
1,036
1,454
1,656
1,616
1,901
2,095
1,404
1,773
1,716
1,701
1,890
1,929
1,966
1,727
2,144
2,833
2,752
3,155
3,546
3,545
3,867
3,822
20122013201420152016201720182019F
Premium VarietiesTraditional Varieties
134
214
343
406
457
538
185
245
245
282
301
253
359
378
393
585
574
831
866
809
959
987
147
148
126
192
741
1,059
1,036
1,454
1,656
1,616
1,901
2,095
20122013201420152016201720182019F
N Z Quee nPink LadyHigh Colour Fuji and R oyal GalaOther

15
Horticulture – Strategy and Markets
•Continued strong focus on Asia and Middle East markets:
Excellent performance in 2019 with volumes up notably on recent years (sales to this market are expected to comprise 64% of all
season sales, a new record), with strong pricing maintained.
We continue to focus on maximising our appeal throughout the value chain – to wholesalers, retailers and consumers. This includes
a renewed marketing effort and increased in-market branding.
We are ably supported by our strategic shareholder China Resources Ng Fung.
•A slow start in Europe due to a larger European crop last year:
Forthcoming European season expected to be lower.
•Ongoing redevelopment strategy corroborated:
Improved returns and branding presence achieved from proprietary varieties and brands, particularly in Asia and Middle East.
Validation of marketing focus
Scales Corporation Limited –2019 Half Year Results
* Actual sales by region will not finally be known until all fruit is sold.
Sales to Asia and Middle East are predominantly in USD, North American sales are in CAD and USD, UK and Europe sales predominantly in their respective currencies.
Sales by Region (TCEs) FY18Sales by Region (TCEs) FY17Sales by Region (TCEs) FY19F*
Europe
31%
North
Amer i c a
5%
UK
10%
As i a &
Middle East
54%
Europe
34%
North
Amer i c a
4%
UK
9%
As i a &
Middle East
53%
Europe
21%
North
Amer i c a
1%
UK
14%
As i a &
Middle East
64%

16
Food Ingredients - Strategy
•Considerable change to the Food Ingredients divisional structure:
Full 6 months of trading of Shelby.
Integration of Alliance JV from April 2019.
•Developing a $25m EBITDA division:
Progress and achievements to date supports ongoing searches for, and reviews of, appropriate investments.
We continue to seek and supply additional protein sources, including those from new geographic markets.
Excellent progress on execution of the divisional strategy
Scales Corporation Limited –2019 Half Year Results
Food Ingredients Structure
MeateorIntnl
**
Petfoodingredient supplier,
Australia & other markets
(100%)
MeateorNZ
*
Petfoodingredient processor and
marketer, New Zealand
(50%)
Shelby
**
Petfoodingredient procurer,
processor and marketer, USA
(60%)
* Equity accounted.
** Fully consolidated into Scales’ financial results, with non-controlling interests deducted from NPAT. International has beenabbreviated to Intnl.
Profruit
*
Juice concentrate manufacturer,
New Zealand
(50%)
MeateorGroup

17
Food Ingredients - Performance
•Positive 6 months of trading from Shelby.
•Encouraging impact of joint venture collaboration:
Additional value being obtained from merging supply chain capabilities and customer relationships.
•MeateorGroup performance impacted by a one-off inventory valuation adjustment:
An isolated operational decision to purchase stock outside of normal contract terms.
No ongoing effect on forecast trading or volumes.
•Fruit processing volumes at Profruitare in line with 1H18, with sales volumes ahead of the comparable
period.
Solid result during a period of change
Scales Corporation Limited –2019 Half Year Results
MeateorGroup –Total Volumes Sold (MT 000s)
9.7
12.0
12.9
16.0
56.1
1H151H161H171H181H19

18
Logistics
•Balance Cargo operations expanded in Christchurch with additional warehouse space.
•Increased sales resource in Melbourne.
Opportunity to capitalise on forecast growth in the Australasian agricultural products sectors.
•Ongoing commitment to expansion opportunities for this division.
Trading slightly ahead of 1H18
Scales Corporation Limited –2019 Half Year Results
Scales Logistics EBITDA ($000)
2.3
2.3
2.5
2.9
3.1
1H151H161H171H181H19

5
Strategy Update

20
Strategy Update
•Our strategy focuses on:
Diversifying our operating units, ensuring a more sustainable and robust earnings profile.
Retaining a strong market focus on product innovation and in-market distribution and representation.
Investment preferences include:
ₒExport-led businesses, especially with an opportunity in China.
ₒFully integrated models, benefiting from in-house experience.
•Shelby and the Alliance Joint Venture met our investment objectives:
Complemented existing operations.
Opportunities to extend export reach, including into the China market.
•Ongoing review of a wide variety of appropriate investment opportunities, both organic and acquisitive:
Remaining patient and disciplined in approach.
Board composition ensures stringent investment hurdles are assessed and met.
•We reiterate our dividend policy, being a dividend payoutratio of 65% –75% of Underlying Net Profit:
We remain committed to the current annual dividend level of no less than 19c cash per share whilst the company holds Net Cash.
Continued focus on pure agribusiness
Scales Corporation Limited –2019 Half Year Results

6
FY19Outlook

22
•Implies an Underlying EBITDA range of $49.0 million and $55.0 million, from continuing operations, on a like-for-
like basis:
•Horticulture:
Export volumes in line with prior year.
Asia and Near Markets demonstrating strong demand for our premium varieties coupled with a market window enabling us to sell fruit earlier
in the season.
Ongoing orchard redevelopment programme takes advantage of NZ’s strong reputation in Asia and Near Markets.
•Food Ingredients:
Expect to benefit from the ongoing co-ordination amongst Meateor NZ, Meateor International and Shelby.
Excluding the one-off inventory valuation adjustment, the full year result is expected be consistent with expectations.
Profruitremains on-track for another solid performance.
•Logistics:
Full year results anticipated to be in line with expectations.
Full Year Outlook for 2019
Underlying Net Profit Guidance of $32.0mto $37.0mreaffirmed
Scales Corporation Limited –2019 Half Year Results

Appendices

24
Appendix I -Reconciliation of Underlying to
Reported Measures
Scales Corporation Limited –2019 Half Year Results
Reconciliation of Divisional Underlying Profitability to Reported Profitability
Group
Horticulture
Food ingredients
LogisticsCorporate and eliminations
1H191H181H191H181H191H181H191H181H191H18
EBITDA
Underlying47.347.141.341.35.16.23.12.9(2.1)(3.3)
Fair value gain on recognition of investment in joint venture10.1 - - - 10.1 - - - - -
Gain on disposal of Meateor New Zealand business10.1 - - - 10.1 - - - - -
NZ I FRS 16 Lea s es5.0 - 4.5 - 0.0 - 0.4 - 0.0 -
Change in fair value gain on apple inventory(0.7)(1.0)(0.7)(1.0) - - - - - -
Share based payments(0.0)(0.1) - - - - - - (0.0)(0.1)
Equi ty s ettl ed empl oyee benefi ts(0.4)(0.2) - - - - - - (0.4)(0.2)
Tra ns a cti on cos ts(0.3)0.7 - - - - - - (0.3)0.7
Intercompany transactions with discontinued operations0.00.30.30.60.20.4 - 0.0(0.5)(0.7)
Reported71.146.745.440.925.66.63.42.9(3.3)(3.6)
EBIT
Underlying42.342.536.937.14.55.92.92.8(2.1)(3.3)
Fair value gain on recognition of investment in joint venture10.1 - - - 10.1 - - - - -
Gain on disposal of Meateor New Zealand business10.1 - - - 10.1 - - - - -
NZ I FRS 16 Lea s es1.0 - 0.9 - 0.0 - 0.1 - 0.0 -
Change in fair value gain on apple inventory(0.7)(1.0)(0.7)(1.0) - - - - - -
Share based payments(0.0)(0.1) - - - - - - (0.0)(0.1)
Equi ty s ettl ed empl oyee benefi ts(0.4)(0.2) - - - - - - (0.4)(0.2)
Tra ns a cti on cos ts(0.3)0.7 - - - - - - (0.3)0.7
Intercompany transactions with discontinued operations0.00.30.30.60.20.4 - 0.0(0.5)(0.7)
Reported62.142.137.536.725.06.33.02.8(3.4)(3.7)
NPAT
Underlying30.129.426.526.74.14.52.12.0(2.6)(3.8)
Gain on sale - Polarcold73.0 - - - - - - - 73.0 -
Discontinued operations - Polarcold and Liqueo - 5.4 - - - - - - - 5.4
Fair value gain on recognition of investment in joint venture10.1 - - - 10.1 - - - - -
Gain on disposal of Meateor New Zealand business10.1 - - - 10.1 - - - - -
NZ I FRS 16 Lea s es(0.4) - (0.3) - (0.0) - (0.0) - (0.0) -
Change in fair value gain on apple inventory(0.7)(1.0)(0.7)(1.0) - - - - - -
Share based payments(0.0)(0.1) - - - - - - (0.0)(0.1)
Equi ty s ettl ed empl oyee benefi ts(0.4)(0.2) - - - - - - (0.4)(0.2)
Tra ns a cti on cos ts(0.3)0.7 - - - - - - (0.3)0.7
Intercompany transactions with discontinued operations0.00.30.30.60.20.4 - 0.0(0.5)(0.7)
Ta x effec t of other NZ I FRS a dj us tments0.20.30.20.3 - - - - 0.00.0
Reported121.834.826.026.624.64.82.12.069.11.4

25
Appendix II - Disclaimer
The information in this presentation has been prepared by Scales Corporation Limited with due care and attention. However, neither Scales Corporation Limited nor any of its
directors, employees, shareholders nor any other person shall have any liability whatsoever to any person for any loss (including, without limitation, arising from any fault or
negligence) arising from this presentation or any information supplied in connection with it.
This presentation supplements our half year results announcement. It should be read subject to and in conjunction with the additional information in that release, and other
material which we have released to the NZX.
This presentation may contain projections or forward-looking statements regarding a variety of items. Such projections or forward-looking statements are based on current
expectations, estimates and assumptions and are subject to a number of risks, uncertainties and assumptions. There is no assurance that results contemplated in any projections
and forward-looking statements in this presentation will be realised. Actual results may differ materially from those projected in this presentation. No person is under any obligation
to update this presentation at any time after its release to you or to provide you with further information about Scales Corporation Limited.
Our results are reported under NZ IFRS. This presentation includes non-GAAP financial measures which are not prepared in accordance with NZ IFRS. The non-GAAP financial
measures used in this presentation include:
•EBITDA. We calculate EBITDA by adding back (or deducting) depreciation, amortisation, finance charges / (revenue), and taxation expense to net earnings / (loss) from
continuing operations.
•EBIT. We calculate EBIT by adding back (or deducting) finance charges / (revenue), and taxation expense to net earnings / (loss)from continuing operations.
•Underlying EBITDA and EBIT are calculated by adding back (or deducting) any non-cash NZ IFRS adjustments.
•Underlying Net Profit is calculated by adding back or (or deducting) the after-tax effect of any non-cash NZ IFRS adjustments.
We believe that these non-GAAP financial measures provide useful information to readers to assist in the understanding of our financial performance, financial position or returns,
but that they should not be viewed in isolation, nor considered as a substitute for measures reported in accordance with NZ IFRS. Non-GAAP financial measures may not be
comparable to similarly titled amounts reported by other companies.
Forward-looking statements are subject to any material adverse events, significant one-off expenses or other unforeseeable circumstances.
The information in this presentation is of a general nature and does not constitute financial product advice, investment advice or any recommendation. Nothing in this presentation
constitutes legal, financial, tax or other advice.
Scales Corporation Limited –2019 Half Year Results

---

Results announcement




Results for announcement to the market
Name of issuer Scales Corporation Limited
Reporting Period 6 months to 30 June 2019
Previous Reporting Period 6 months to 30 June 2018
Currency
Amount (000s) Percentage change
Revenue from continuing
operations
$277,965 26%
Total Revenue $277,965 26%
Net profit/(loss) from
continuing operations
$48,758 66%
Total net profit/(loss) $121,760 250%
Interim/Final Dividend
Amount per Quoted Equity
Security
N/A
Imputed amount per Quoted
Equity Security
N/A
Record Date N/A
Dividend Payment Date N/A
Current period Prior comparable period
Net tangible assets per
Quoted Equity Security
$2.23 $1.56
A brief explanation of any of
the figures above necessary
to enable the figures to be
understood
Please refer to the attached reports for commentary and
unaudited condensed consolidated interim financial statements.
Authority for this announcement
Name of person

authorised
to make this announcement
Steve Kennelly
Contact person for this
announcement
Steve Kennelly
Contact phone number +64 3 3712263
Contact email address steve.kennelly@scalescorporation.co.nz
Date of release through MAP

28/08/2019

Unaudited financial statements accompany this announcement.