Name of issuer:
Ricegrowers LimitedACN or ARBN:
55 007 481 156Half yearly Preliminary final
Financial year ended ('Current period'):
30 April 2017For 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 20174 / SUNRICE FINANCIAL REPORT 2017
CONTENTSThis 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
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
CONSOLIDATED BALANCE SHEET
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
CONSOLIDATED CASH FLOW STATEMENT
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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