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02-11-2022, 08:46 AM
#2361
Originally Posted by Ricky-bobby
One of the biggest issues is getting them out of the country… we are also struggling to export. Getting product to Nelson port has been a nightmare (road closures etc) and then ships are cancelling the route as it’s not reliable cargo. It’s a bit of a shambles…
Lots of Kiwi can't afford anymore to pay for fresh fruit. Pretty disgusting to learn that the profiteers on the other side prefer to have their fruit rotting instead of selling them for normal prices.
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"Prediction is very difficult, especially about the future" (Niels Bohr)
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02-11-2022, 10:00 AM
#2362
Member
Originally Posted by Sideshow Bob
Maybe they shouldn't have sold their coldstore business......
Not sure if it’s just mr apples… I think the whole industry has the issue.
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02-11-2022, 10:26 AM
#2363
They could start making apple cider for the local market.
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02-11-2022, 10:28 AM
#2364
Originally Posted by see weed
They could start making apple cider for the local market.
They could, but kg prices for windfall fruit used for juicing are very low indeed ...
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"Prediction is very difficult, especially about the future" (Niels Bohr)
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09-12-2022, 08:35 AM
#2365
https://www.nzx.com/announcements/403815
2022 INTERIM DIVIDEND &TRADING UPDATE AND 2023 GUIDANCE
The directors of Scales Corporation Limited (NZX:SCL) have declared a fully imputed interim cash dividend for the 2022 financial year of 6.0 cents per share, to be paid on 16 January 2023. Due to the late finalisation of the 2022 apple season, directors have agreed to split the annual dividend payments for the 2022 financial year into three instalments. The second payment will be announced with the year end results and the third scheduled in early July as usual.
The directors reiterate their commitment to paying an annual cash dividend level of no less than 19 cents per share whilst the company holds Net Cash, although at a level no greater than Underlying Net Profit Attributable to Shareholders for each year.
With regard to Guidance for the twelve months to 31 December 2022, directors confirm the Underlying Net Profit Attributable to Shareholders range of $23.5 million to $28.5 million remains achievable, although it is very unlikely that this will now be at the top of the range. The recent change to the trading outlook and higher level of uncertainty regarding the year end result is due to the unprecedented delay in finalising the apple sales season.
A further update will be provided as part of the 2022 year-end announcement, scheduled for February 2023.
Managing Director Andy Borland notes “For the 2022 apple season Mr Apple continues to finalise sales, primarily in our key markets of China and Europe. As a result of the widely reported market turbulence in both markets, final results are still some weeks away and cashflows from sales and outstanding receivables are materially slower than normal years. We are also in the process of resolving a significant crop insurance claim in relation to the 2022 apple season.
As previously reported, Scales continues to benefit from our diversified nature and, in particular this year, from the growth of the Global Proteins division, both organically and via acquisition. The division is forecast to report a record 2022 result and a positive outlook for 2023”.
Looking ahead to the 2023 financial year, directors advise an Underlying Net Profit Attributable to Shareholders Guidance range of $23.5 million to $28.5 million, which is at the same level as 2022 initial Guidance.
In providing Guidance for 2023, directors note:
• Apple volumes and selling prices within the horticultural division are forecast to be generally consistent with 2021 levels;
• Key markets of China and Europe are expected to perform on a business-as-usual basis, near levels seen prior to COVID-19 and other market disruptions;
• The Group will delay the material level of capital expenditure on gross margin improvement initiatives within Mr Apple for the 2023 year;
• Due to the recent announcements concerning the Global Proteins initiatives in Australia it is expected the 2023 first half result will incur material start up operating costs;
• The Guidance range implies:
o an Underlying Net Profit range of between $35 million and $42 million; and
o an Underlying EBITDA range of between $68 million and $77 million.
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09-12-2022, 08:37 AM
#2366
lower div now gives them option of cancelling next one if things get worse
one step ahead of the herd
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09-12-2022, 10:04 AM
#2367
Originally Posted by bull....
lower div now gives them option of cancelling next one if things get worse
Going to three divs per year though which is a good move.
Last edited by 777; 09-12-2022 at 10:08 AM.
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09-12-2022, 10:25 AM
#2368
looks like an earnings upgrade (compared to analyst expectations for 2023). Obviously - early days, but this is good;
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"Prediction is very difficult, especially about the future" (Niels Bohr)
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09-12-2022, 10:42 AM
#2369
Member
Be careful with this one… I know there is a whole lot of apple dumping going on due to rotting in cool stores… similar problem to what’s happening with kiwi fruit.
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09-12-2022, 10:51 AM
#2370
Originally Posted by Ricky-bobby
Be careful with this one… I know there is a whole lot of apple dumping going on due to rotting in cool stores… similar problem to what’s happening with kiwi fruit.
It's pretty hard to buy a decent apple. Had some recently that are soft in the end ...R Gala...yuck. They look fine until one bites into them. Tried Braeburn...not much better.
So we just planted a Coxes Orange...see how that goes.
One wonders how our overseas customers get on.
Disc: Holding.
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