Ravensdown to pay farmer rebate as profits surge

Wed, 06 Aug 2014

By Suze Metherell Aug. 7 (BusinessDesk) - Ravensdown Fertiliser Cooperative will resume paying farmers a rebate this year after its earnings jumped some 161 percent after it quit an unprofitable Australian business. Profit before tax and rebate from continuing operations rose $73 million in the year ended May 31, from $28 million the previous year, the Christchurch-based cooperative said in a statement. Trading profit rose to $46 million from $6 million a year earlier, which was impacted by the cost from quitting Australia. Ravensdown wil...

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