Ravensdown ekes out a profit as high costs bite

Garry Diack, Ravensdown CEO says the company dealt with eye-watering cost rises. (Image: Ravensdown)

Mon, 28 Aug 2023

Fertiliser co-operative Ravensdown only just managed to break even in the past year as spiralling fertiliser prices took their toll. In the 12 months to May 31, its net profit before tax was $429,000 versus $68.5 million in the prior year. A tax benefit meant its net profit from continuing operations after tax was $2.9m. The sharply lower profit meant it wasn’t able to pay a year-end rebate to its shareholders, who received $25 per tonne last year.Reported revenue of $977.5m includes insurance proceeds for flood damage and a fir...

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