Source: Radio New Zealand
Harvest of Posy apples is under at Mr Apple’s Meeanee orchard near Napier. SUPPLIED/Mr Apple
Strong sales of premium apple varieties into Asia and the Middle East has led Scales Corporation to report a massive jump in profit.
The company’s net profit for the 2025 financial year was $117.7 million – a 137 percent lift on the year before.
Revenue was $899.9 million, up 54 percent on 2024.
The company’s horticulture division, Mr Apple, produced an underlying result of $65.2 million up 73 percent on the year before.
Managing director Andy Borland said horticulture delivered an outstanding result driven by increased apple export volumes and average prices.
“Mr Apple’s own-grown export volume was 21 percent up on last year, with our strategically important markets of Asia and Middle East comprising 84 percent of total fruit sold.
“Premium volumes accounted for approximately 74 percent of total export sale volumes, with significant growth in Dazzle and Posy as well as Red Sports varieties. We estimate that Premium apple varieties will account for around 80 percent of export volumes by 2027.”
Last year Scales also bought 240 hectares of apple orchards from Hawke’s Bay company Bostock.
Borland said the acquisition was a key component of this result, allowing it to fast-track its long-term strategy of investing in apple varieties targeted to the Asia and Middle East markets.
He said the company’s juice business, Profuit delivered another exceptional performance underpinned by strong sales prices in export markets.
Scales pet food business saw increased sales to South East Asia and The United States – the underlying result lifted 33 percent to $73.9 million.
It’s logistics arm which provides international freight services delivered another record underlying result of $7.6 million, an increase of 10 percent.
Borland noted logistics processed a significant increase in volumes due to strong volumes from the dairy sector and a positive cherry season, providing an extremely robust result for the division. It also benefited from strong apple volumes.
The outlook for the year ahead remains positive.
Company chair Mike Petersen said In FY2026, global proteins is expected to perform strongly and continue to realise the benefits of its increased investments.
“Mr Apple has commenced picking and packing for the 2026 apple season, with a crop of around 3.5 million TCEs forecast. Pricing is expected to be favourable.
“Logistics is expected to contribute positively and has seen continued strong air freight demand in the year to date,” he said.
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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
