Connect with us

Local News

Profits up for Ridley, Ingham’s despite stockfeed challenges | The Land

Published

on


After restructuring its business and closing three feed mills in Victoria and South Australia, stockfeed producer Ridley Corporation has achieved a profit leap of almost 3000 per cent.

Although drought breaking rainfall and a seasonal turnaround in many regions in the past year resulted in a significant downturn in demand for supplementary sheep and cattle feeds, net profit after tax rebounded from just $400,000 in the first half of 2019-20 to $11.5 million for the six months to December 31, 2021.

Ridley’s financial results, which included notable growth in its bulk feeds sales to the pig and broiler poultry markets, followed big poultry and stockfeed player Ingham’s reporting a drop in its external stockfeed revenue.

Ingham’s also…



Click here to view the original article.

Continue Reading
Advertisement

You might also like ...

North Queensland banana farmer furious at lack of assistance after wind damage
Red-hot demand for tractors gains pace in March | The Land