Scoop has an Ethical Paywall
Scales Not Part Of SCF Receivership
Scales Not Part Of SCF Receivership
Scales Corporation Limited is not part of the receivership of South Canterbury Finance Limited. Scales Corporation operates autonomously from the activities of its majority shareholder, South Canterbury Finance, and its day to day operations will not be affected by the receivership.
Scales Corporation recorded an unaudited $10.10 million pre-tax operating profit for the year ending 30 June 2010. Chief Executive Officer Andy Borland says this result reflects the sound operating earnings of its various subsidiaries.
“For the year ahead we are forecasting a continuation of profitable trading from our subsidiaries.”
“We continue to enjoy the ongoing support of our staff, customers and other stakeholders.”
Scales Corporation is one of New Zealand’s oldest and most respected companies and was formed in 1912 as a shipping service for the wool industry. Today it operates a shipping logistics business, a petfood ingredients operation, temperature controlled coolstores, industrial parks, bulk liquid storage and processing, insurance, and is New Zealand’s largest apple grower and exporter.
The Company has 554 shareholders. South Canterbury Finance is its majority shareholder with a 79.7 per cent holding.
ENDS
Worldline: Boxing Day Spending Up On Last Year, But Pre-Christmas Spending Is Slightly Down
Skoltech: Scientists Reinvent Physical Laws Governing Formation Of Snowflakes, Raindrops, And Saturn’s Rings
Trademe: Trash To Treasure - Kiwi Make The Most Of Unwanted Christmas Gifts 
Financial Markets Authority: FMA Seeks Clarity From High Court On Use Of Eligible Investor Certificates In Wholesale Investment Sector
Scion: Scion’s Novel Internship Model Connects Talent With Industry
Financial Markets Authority: Westpac Admits To Misleading Representations That Resulted In $6.35m In Overcharges
