Earnings from food ingredients division could one day rival horticulture.
A global rush on furry friends to make rolling lockdowns more bearable helped Kiwi agribusiness company Scales Corporation achieve what it’s calling a solid result in a disruptive year.
It also markedly changed the relative earnings across its three main divisions: horticulture (orchards and the Mr Apple and Fern Ridge Fresh brands); food ingredients (three petfood ingredient businesses including Meateor Foods and Shelby Foods, and one fruit concentrate business); and ocean and air-freight logistics for perishables.
Historically, its biggest earner has been, and remains, horticulture. Scales sends apples to 50 countries. In the year to 31 December, 2020, this division delivered an underlying