Ravensdown posts 18% drop in FY earnings as it cuts prices, invests for future growth

Sun, 06 Aug 2017

By Tina Morrison Aug. 7 (BusinessDesk) - Ravensdown, the fertiliser cooperative owned by farmers, posted an 18 percent drop in annual earnings after it reduced prices to gain market share and invested in infrastructure to drive future growth. Earnings from continuing businesses before tax and rebates fell to $51 million in the year ended May 31, from $62 million a year earlier, according to the Christchurch-based company's latest accounts. Sales volumes increased 2 percent as Ravensdown gained new customers, but revenue fell 5 percent to...

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