Ridley Corporation Releases Its Half year Results For FY 2019

  • Feb 20, 2019 AEDT
  • Team Kalkine
Ridley Corporation Releases Its Half year Results For FY 2019

Ridley Corporation Limited (ASX: RIC), through its subsidiaries, operates stock feed mills, which produce and distribute animal feed products for the beef, dairy, pig and poultry industries. The Company also operates salt refineries and produces crude salt along with providing rural products and services.

Ridley Corporation Limited has recently announced its 1H FY19 results for the period ended 31 December 2018. As per the report the business has delivered a consolidated Net profit after tax (NPAT) of $16.1 million for the half year ended 31 December 2018 and a total comprehensive income of $15.7m.

The Group has recorded Earnings Before Interest and Tax (EBIT) of $22.2m, comprising $21.5m from Ridley Operations, less Corporate costs of $5.7m plus net Property income for the period of $6.4m.

The half-year result mirrors strong growth in Ruminant, boosted by growth in Laverton Rendering and Supplements, and reinforced by volume growth in Packaged Products for the first time in several years. As previously advised and compared to the previous corresponding period, Poultry business was down following the expiry of the Ingham’s supply agreement in October 2018 and Maroota Rendering was down as a result of the cessation of Red Lea raw material supply in April 2018. The Aquafeed result is consistent with the previous corresponding period after segregating the non-recurring Huon legacy inventory costs from the ongoing operations.

Sales of NovacqTM-inclusive domestic prawn feed products are skewed to the second half of the year, and a loss has been recorded for the first six months of NovacqTM operations since the domestic operations went live on 1 July 2018.

The Board of directors have approved a fully franked interim dividend of 1.5 cents per share payable on 30 April 2019. The Board has also approved the reinstatement of a Dividend Reinvestment Plan providing all Ridley shareholders with the opportunity to acquire Ridley shares at a small discount and free of transaction costs.

The management is of the view that the long-term outlook for Australian livestock remains positive, and Ridley plays a pivotal role in the well-being of this industry. There will be cyclical ups and downs, and the company need to deliver a compelling customer value proposition to assist farmers in working through the lean times and optimising their returns when conditions are more favourable.

Now, let us have a quick look at Ridley Corporation Limited’s stock performance and the return it has posted over the last few months. The stock is currently trading at a price of $1.400, trading down by 0.356% during the day’s trade with a market capitalisation of ~$432.48 Mn. The counter opened the day at $1.375, reached the day’s high of $ 1.410 and touched the day’s low of $1.360 with a daily volume of ~53,395. The stock has provided a Year Till Date return of 11.51% & also posted gains of 4.85%, -4.42% & -2.43% over the past six months, three & one-months period respectively. It had a 52-week high price of $1.570 and touched 52 weeks low of $1.245, with an average volume of 142,094 approximately.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

 

There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

CLICK HERE FOR YOUR FREE REPORT!

 

All pictures are copyright to their respective owner(s).Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.

 

   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK