New Zealand-based fresh produce group Scales Corp has posted a net profit of NZ$20.4m for the 2013 calendar year, up from NZ$13.6m in 2012, according to media reports.
Sales also rose 17 per cent to NZ$278m, on the back of a strong performance from the group’s apple grower-packer-exporter Mr Apple, which shipped 4m cartons over the 12 month period.
“We are increasing apple volumes targeted at premium Asian markets,' Andy Borland, Scales Corp’s managing director, told sharechat.co.nz. “Apple prices were strong in most of the company's key markets which more than offset the impact of a persistently high New Zealand dollar.”
Private equity firm Direct Capital acquired a controlling 79 per cent stake in Scales through a NZ$44m transaction with South Canterbury Finance in 2011.
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