Scales Corp. Ltd.
6.40
NZD
-0.06
(-0.93%)
Scales Corp. Ltd.
NZX:SCL
(New Zealand Exchange)
Recent
price
6.40
P/E
ratio
8.43
div
yld
3.97%
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Scales Corporation Limited (NZX:SCL) is a diversified New Zealand agribusiness company that operates through three primary divisions: Global Proteins, Horticulture, and Logistics. The Global Proteins division, through subsidiaries and joint ventures including Meateor International, Shelby Foods, Meateor Pet Foods LP, Meateor Australia, Fayman International, and ANZ Exports, processes and markets petfood ingredients such as mechanically deboned meat (MDM) from lamb, ovine, and beef, edible meat and offal products; it supplies these commodities to markets in North America, Asia, Australia, Europe, and other regions. The Horticulture division, via subsidiaries Fern Ridge Produce Limited, Mr Apple New Zealand Limited, and Profruit (2006) Limited, grows, supplies, trades, and markets apples and produces juice products for export and domestic customers. The Logistics division, operated by Scales Logistics Limited, provides sea and air freight forwarding, refrigerated container NVOCC services, customs clearance, LCL shipping, inland haulage, warehousing, distribution, and tailored export services for primary produce, serving global carriers, airlines, exporters, importers, and FMCG businesses. Founded in 1897 as a shipping business by George Herbert Scales and headquartered at 52 Cashel Street, Christchurch, New Zealand, the company employs approximately 615 staff and maintains operations across New Zealand, Australia, the United States, Europe, Asia, and other international markets. Scales Corporation generates the majority of its revenue from the Global Proteins segment, with significant exposure to petfood manufacturing, fresh produce exporting, and supply chain services for New Zealand's primary export sector. In September 2025, Scales Corporation significantly expanded its Global Proteins division by acquiring additional stakes in its Australian joint ventures for AUD 91.05 million, taking full 100% ownership of Meateor Australia and Fayman International, and increasing its stake in ANZ Exports to 85%; this transaction, funded through cash reserves, shares, and deferred payments, aligns with the division's single-brand strategy, accelerates growth in Australia amid strong beef market conditions, and prompted an upward revision to FY25 underlying net profit guidance ($51.0-$56.0 million) and FY27 Global Proteins EBITDA target ($85 million). Earlier in 2024, the company increased its Meateor Australia stake from 33% to 50%, further strengthening its petfood ingredient processing capabilities in that market. These moves reflect Scales Corporation's strategic focus on consolidating high-performing assets to enhance operational efficiency, market access, and earnings in the global proteins trade.