FY18 NPAT Achieves Guidance: Profit Rebounds
Consolidated revenue for the Group of $1.2 billion, up 6% year-on-year
Net Profit after Tax (NPAT) of $45.1 million, up 32% year-on-year
Fully franked dividend of 33 cents per B Class share, no change year-on-year
Final C17 full year paddy price of $378.66 per tonne for Reiziq
SunRice today released its Financial Results for the year ended 30 April 2018 (FY18).
SunRice’s consolidated revenue for the Group in FY18 was $1.2 billion, a 6% increase compared to the previous year (FY17) and Net profit After Tax (NPAT) was $45.1 million, a 32% increase compared to the previous year. Financial results were driven by a combination of several factors that included: the largest Riverina rice crop in three years; ongoing success of selling premium Riverina rice into high returning markets and sourcing rice offshore to satisfy demand in lower returning markets; a rebound in medium grain rice prices following a 10-year low; and a recovery in profitability experienced by Trukai, CopRice and Riviana.
SunRice Group Financial Highlights
The Annual Report will be mailed to those shareholders who elect to receive a hard copy of this document. The Annual Report is available on the SunRice website: SunRice Reports
Dividend Reinvestment Plan (DRP) and Grower Share Purchase Plan (GSPP)
The DRP and GSPP encourage grower and shareholder share ownership in SunRice. The issue price of B Class Shares under these plans has been set at $5.71 per share for offers to be made in FY19: a 2% discount to the Volume Weighted Average Price (VWAP) calculated over the five days on which shares traded since 12 June 2018.
SunRice’s results will be presented at the Ricegrowers Limited Annual General Meeting, to be held at 10.30am on Thursday 20 September at Jerilderie Civic Hall, Jerilderie.
Matthew Gerber, Head of Corporate Affairs
+61 2 9268 2633