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29-03-2023, 03:11 PM
#2421
Member
$619.2m this year so 7.2% dent!
Originally Posted by Leemsip
$45m (300 hect * 150k) !
Anyway bought some more today.
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29-03-2023, 03:32 PM
#2422
Member
Originally Posted by Pegasus2000
Director Nick Harris bought 50k shares at price 2.86 on March 23rd.
Yes that's a good point - I think another director and/or senior manager also bought recently. Good sign.
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06-04-2023, 12:57 PM
#2423
https://www.nzx.com/announcements/409624
MARKET UPDATE AND FY23 REVISED GUIDANCE
The Directors of Scales Corporation (NZX:SCL) advise that Guidance for FY23 Underlying Net Profit after Tax Attributable to Shareholders has been reinstated at $14.0m to $19.0m. This follows both an assessment of the impact of Cyclone Gabrielle and a review of trading forecasts in all Group businesses.
The impact of the Cyclone will be long felt in Hawke’s Bay and we will continue to be focused on the health, safety and wellbeing of our staff, their families and the wider community. Part of our response to the Cyclone is the commitment to a $250,000 donation to the recovery.
A significant amount of work is going into the clean-up and remediation of our affected orchards and we are indebted to our teams for this effort. We also appreciate the cyclone recovery funding provided by the government to assist in this work. A priority focus in the orchards has been on the removal of flood-carried silt from around trees.
With regard to the specific impact on Mr Apple’s crop and orchards, we can now advise the following:
• Our current indications are that our FY23 crop will be down approximately 25% on our initial forecast for the year;
• We estimate that the total tree losses across owned and leased orchards at approximately 5% of our total planted orchard area. Of this area, due to expiring leases on some of the orchards, less than 50% will need to be replaced;
• Subject to any further tree mortality resulting from the impact of silt deposits, which will become more evident at bud burst in spring, we estimate that the total cost of replanting will be no higher than our usual redevelopment capex programme;
• Going forward, crop expectations in future years should only be impacted to the extent of replanting the above tree losses and relinquishing of orchard leases;
• As a result of prior year operating results, Mr Apple has been constantly reviewing the overall apple business with a view to further increasing the focus on premium apples to the Asia and Middle East market. The impact of Cyclone Gabrielle provides an opportunity to further realign varieties and volumes to this strategy. We continue to be very positive about returns from this strategy and note that early demand and pricing for our branded varieties in the market has been strong.
In providing updated Guidance for FY23, Directors note:
• Horticulture:
o The FY23 apple crop is 50% picked and 12% sold;
o Sales pricing is assumed to be generally consistent with 2021’s levels;
o No change has been made to our estimate of shipping costs although it is noted that lower volumes nationally should improve freight logistics and costs;
o All known Cyclone impacts, including clean-up costs have been factored into the result at their currently expected levels.
• Global Proteins:
o As noted in our Annual Report released last week, early trading for FY23 has been encouraging and our current initiatives are all making positive progress. Although the timing of new developments will have some impact on current year trading results, we remain very positive about the division’s prospects for 2024 and future years.
• Logistics;
o The business will be impacted by crop losses in horticulture and the wider agriculture industry.
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06-04-2023, 01:17 PM
#2424
After all the chaos expected profit of 18m in F23 pretty good ….only down 33% on F22 of 27m
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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06-04-2023, 01:51 PM
#2425
Member
Originally Posted by winner69
After all the chaos expected profit of 18m in F23 pretty good ….only down 33% on F22 of 27m
25% down in crop is pretty impressive. Been a hell of a season for them…. Be interesting to see if quality is affected?
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06-04-2023, 05:38 PM
#2426
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06-04-2023, 08:24 PM
#2427
Member
I like to buy on the upswing, who cares about a couple of percent if you th8nk its a conviction hold. In at $3 last week and $3.25 today.... earlier knife catching at $3.50. Fully tanked up now to max.
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06-04-2023, 08:43 PM
#2428
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11-04-2023, 10:39 AM
#2429
Member
Volume is pretty low this morning. With $10k you could drive the stock to $42 per. 15 bagger mate. Anyone keen?
SCL volume.PNG
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11-04-2023, 10:50 AM
#2430
Originally Posted by Leemsip
Volume is pretty low this morning. With $10k you could drive the stock to $42 per. 15 bagger mate. Anyone keen?
SCL volume.PNG
I assume you realise that a) not all orders are visible and b) the brokers are required to maintain an orderly market.
If you put your $10,000 order into the market I am sure that you would fill it for below $4; Just try - however, no promises that you can sell afterwards your new shiny shares with a gain ...;
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"Prediction is very difficult, especially about the future" (Niels Bohr)
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