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How to buy Scales Corporation shares (SCL)

The novice investor’s guide to buying Scales Corporation shares on the NZX.

scales corp logo

Scales is a diversified agribusiness portfolio with exposure to a range of primary sector opportunities across New Zealand. Shares in Scales Corporation Limited (SCL) can be bought and sold on the NZX. Keep reading for step-by-step instructions on how to buy SCL shares.

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How to buy shares in Scales Corporation on the New Zealand Exchange

  1. Compare share trading platforms. If you’re a beginner, look for a platform with low commissions, expert ratings and investment tools to track your portfolio. Narrow down top brands with our comparison table. Most importantly, you need to find a share trading platform that allows you to trade on the NZX.
  2. Open and fund your share trading account. Complete an application with your personal and financial details, like your ID and bank information. Fund your account with a bank transfer, credit card or debit card.
  3. Search for Scales Corporation. Find the stock by name or ticker symbol: SCL. Research its history to confirm it’s a solid investment against your financial goals.
  4. Purchase now or later. Buy today with a market order or use a limit order to delay your purchase until Scales Corporation reaches your desired price. To spread out your purchase, look into dollar-cost averaging, which smooths out buying at consistent intervals and amounts.
  5. Decide on how many to buy. Weigh your budget against a diversified portfolio that can minimise risk through the market’s ups and downs. You may be able to buy a fractional share of Scales Corporation, depending on your share trading account.
  6. Check in on your investment. Congratulations, you own a part of Scales Corporation. Optimise your portfolio by tracking how your stock — and even the business — performs with an eye on the long term. You may be eligible for dividends and shareholder voting rights on directors and management that can affect your stock.

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Scales Corporation overview and background

With a history dating back to the late 19th century, Scales is an agribusiness portfolio that services multiple markets across New Zealand. Today, it operates three divisions across the following sectors:

  • Horticulture. Brands in this division are Fern Ridge Produce and the country’s largest, fully integrated grower, packer and marketer of apples, Mr Apple.
  • Logistics. Scales Logistics provides supply chain services and specialises in primary produce exports.
  • Food ingredients. Brands include Meateor International and Shelby Foods, along with joint ventures Meateor Pet Foods LP and Profruit.

Scales Corporation is headquartered in Christchurch.

Performance and company results

In its 2020 annual report for the year ended 31 December 2020, Scales announced the following highlights:

  • Reported profit for the year of $26.6 million (down from $121.6 million in 2019)
  • Underlying EBITDA of $53.9 million (up from $52.7 million in 2019)
  • Underlying net profit after tax of $33.8 million (down from $36.4 million in 2019)
  • Earnings per share of 15 cents (down from 84.2 cents in 2019)
  • Revenue of $470.7 million (down from $484.6 million in 2019)
  • Dividends declared of 19 cents per share (same as 2019)

Key details

NameScales Corporation LimitedIndustryAgribusiness & Logistics
Ticker symbolSCLISINNZSCLE0002S8
TypeOrdinary SharesDate listed on NZX25 Jul 2014
End of financial yearDecemberIndependent chairmanTim Goodacre
Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

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