Ravensdown cracks $1 billion in annual sales, as volatile urea prices bite into margins

Tue, 31 Jul 2012

By Paul McBeth July 31 (BusinessDesk) - Ravensdown Fertiliser Cooperative, which supplies close to half the country's agricultural fertiliser, racked up more than $1 billion in sales in its latest financial year, even as it absorbed volatile international urea prices that kept its margins thin. Operating profit was $51.8 million in the 12 months ended May 31, down from a record $71.6 million a year earlier, the Christchurch-based cooperative said in a statement. That came as revenue climbed to $1.07 billion from $933.2 million a year earlier...

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