[29 August/Farmers Weekly]

Higher apple volumes and prices increased profits for Scales Corporation. It was waiting for confirmation of its sale of its Polarcold business. All its divisions traded strongly, but Mr Apple subsidiary accounted for around 75 percent of its earnings. An improved growing season meant fruit volumes were much higher. Scales Corp Managing Director, Andy Borland, said the gains in premium varieties were pleasing. Mr Apple revenue increased from $120.3 million to $143.8 million, with more than half its sales now in Asia. Under accounting rules, they needed to value all unsold fruit at the half year balance date, and at that time about half of the crop was sold. Most receipts came through later in the year, however, so this would turn around its operating cash outflow. Mr Borland added the last season was a fairy average season. Rainy weather caused quality issues, however higher volumes made up for this. Scales was waiting for Overseas Investment Office approval for the sale of its Polarcold business.