FORM: FINAL REPORT

Name of issuer:

Ricegrowers Limited

ACN or ARBN:

55 007 481 156

Half yearly Preliminary final

Financial year ended ('Current period'):

30 April 2017

For announcement to the market

$A,000

Revenue

down

12.4%

to

1,112,815

Profit (loss) for the period (after tax)

down

34.2%

to

34,236

Profit (loss) for the period attributable to members of Ricegrowers Limited

down

30.3 %

to

34,201

Commentary on results for the period

SunRice's consolidated revenue for the Group in FY17 was $1,113 million, a 12% decrease compared to the previous year (FY16) and Net profit after tax (NPAT) was $34.2 million,

a 34% decrease compared to the previous year. Financial results were driven by a combination of several external factors that included: the lower Riverina rice crop; lower medium grain rice prices due to increased global production and stockpile levels; negative macroeconomic trends in key SunRice markets (Pacific and Middle East); and weaker trading conditions experienced by CopRice and Riviana.

In this challenging environment SunRice successfully established a sustainable supply chain from Vietnam, which contributed a significant 320,000 paddy tonnes to the total 500,000 paddy tonnes we sourced around the world, which also included around 115,000 paddy tonnes from Sunfoods in the US.

SUNRICE FINANCIAL REPORT 2017 / 1

FORM: FINAL REPORT (CONTINUED)

Dividends

Current period

Previous corresponding period

Franking rate applicable:

100%

100%

Final dividend

Amount per security

33.0 cents

33.0 cents

Franked amount per security

33.0 cents

33.0 cents

Special dividend

Amount per security

-

-

Franked amount per security

-

-

Short details of any bonus or cash issue or other item(s) of importance not previously released to the market:

N/A

Date the dividend is payable

31 July 2017

Record date to determine entitlements to the dividend (i.e. on the basis of registrable transfers received up to

5.00 pm if paper based, or by 'End of Day' if a proper ASTC/CHESS transfer)

12 July 2017

If it is a final dividend, has it been declared?

Yes

The dividend or distribution plans shown below are in operation. Ricegrowers Limited Dividend Reinvestment Plan (DRP) has been reactivated. Any other disclosures in relation to dividends or distributions.

N/A

NTA Backing

Current period

Previous corresponding period

Net tangible asset backing per ordinary security

7.10

6.84

2 / SUNRICE FINANCIAL REPORT 2017

FINANCIAL REPORT 2017

4 / SUNRICE FINANCIAL REPORT 2017

CONTENTS

This financial report covers the consolidated entity consisting of Ricegrowers Limited and its controlled entities. The financial report is presented in Australian currency.

Ricegrowers Limited is a company limited by shares, incorporated and domiciled in Australia. Its registered office and principal place of business is:

Ricegrowers Limited NIP 37 Yanco Avenue LEETON NSW 2705

A description of the nature of the consolidated entity's operations and its principal activities is included within the directors' report, which is not part of the financial report.

The financial report was authorised for issue by the directors on 22 June 2017.

1

DIRECTORS' REPORT

22

AUDITOR'S INDEPENDENCE DECLARATION

23

CONSOLIDATED FINANCIAL REPORT 23 CONSOLIDATED

INCOME STATEMENT

  1. CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

  2. CONSOLIDATED BALANCE SHEET

  3. CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

  4. CONSOLIDATED CASH FLOW STATEMENT

  5. NOTES TO THE FINANCIAL STATEMENTS

77

INDEPENDENT AUDIT REPORT TO THE MEMBERS

Ricegrowers Limited published this content on 23 June 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 23 June 2017 00:24:11 UTC.

Original documenthttps://www.sunrice.com.au/media/602091/ebr010-sunrice-ar17-financials-v16.pdf

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