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01-08-2018, 12:25 PM
#2051
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01-08-2018, 12:39 PM
#2052
Originally Posted by ShouldHaveHeld
No impact to Scalesfrom the MPI issue
Yes....good news.
https://www.nzx.com/announcements/321572
"SCL
01/08/2018 12:21
GENERAL
NOT PRICE SENSITIVE
REL: 1221 HRS Scales Corporation Limited
GENERAL: SCL: Imported apple and stone fruit material
1 August 2018
Imported apple and stone fruit material
Scales Corporation Limited (SCL) advises that its subsidiary, Mr Apple New
Zealand Limited, is unaffected by the currently publicised issue, as advised
by MPI, regarding imported apple and stone fruit root stock.
Ends"
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01-08-2018, 01:52 PM
#2053
This is excellent news for shareholders
Lets hope it doesn't turn out to be like that CVT annoucement where they said various changes would have no impact and then blame huge downgrades solely on those various changes
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01-08-2018, 01:54 PM
#2054
Junior Member
How can the biggest apple producer not be affected? And what about their other holding like fern ridge fresh and profruit?
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01-08-2018, 02:13 PM
#2055
Originally Posted by Sideshow Bob
Usually after the cow/kiwifruit vine/fish/oyster/myrtle rust/manuka honey bee has already bolted!
Another reminder not to put all eggs in one basket! All investments carry risks - none more so than those associated with primary products. A reasonable degree of diversification promotes sound sleep at night!
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01-08-2018, 02:35 PM
#2056
Originally Posted by RTM
Yes....good news.
https://www.nzx.com/announcements/321572
"SCL
01/08/2018 12:21
GENERAL
NOT PRICE SENSITIVE
REL: 1221 HRS Scales Corporation Limited
GENERAL: SCL: Imported apple and stone fruit material
1 August 2018
Imported apple and stone fruit material
Scales Corporation Limited (SCL) advises that its subsidiary, Mr Apple New
Zealand Limited, is unaffected by the currently publicised issue, as advised
by MPI, regarding imported apple and stone fruit root stock.
Ends"
Wow that's a relief, though sorry for those orchardists affected.
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01-08-2018, 02:36 PM
#2057
great news to have confirmed , as expected
one step ahead of the herd
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13-08-2018, 04:19 PM
#2058
Long Member
https://www.nzx.com/announcements/322134
another sale $20 Liquid storarge sold. Seemingly trimming back on their diversification, wonder what they have planned with all the cash? I personally liked the cold storage business as provided some alternative revenue in the event of a weather disrupted growing season (apples).
Think I'll sit on the sidelines awhile longer yet
Disc : not holding anymore
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13-08-2018, 07:40 PM
#2059
Nothing wrong in having cash to reduce the borrowings in these turbulent times.
$US Strong. China De-Dollarising. The Yuan falling. $NZ. Dropping.
What will SCL's major customer be paying us in. If buying. ???
Disc. Comfortable Holder
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14-08-2018, 07:52 AM
#2060
Long Member
Agreed on Cash, it does provide options. Although with int rates at all time lows, and the RBNZ Govt potentially on hold until 2020 and beyond, is there much point in paying debt back earlier than necessary?
In terms of geographic exports, 54% go to Asia, so I'd guess there's potential that some of this is USD denominated. Exports to North America have been decreasing and accounted for 5% in 2017 of total export volumes. Their use of hedging contracts to mitigate FX uncertainty is shown in last year's report to the tune of $6.4m. Overall hard to discern, but there's definitely benefit to the increasing USD, with some lost/paid away in hedging contracts, and some gains in other export markets if the NZD falls disproportionately further (EUR).
With the drought in NSW, fires in California, flooding in Texas, China and the Philippines, there seems to be no shortage of potential downside to volumes if NZ were to experience anything similar (cold/wet/dry/natural disaster).
don't get me wrong, I still like the company, I'd just like to see some form of diversification, as when they have a bad season (and they will at some stage), being all in on apples may not look like such a wise plan. Perhaps using some of the funds to build/expand the fruit processing & pet food side of the business?
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