RGA Annual General Meeting
Laurie Arthur - Chairman4 August 2017
Agenda
- FY17 Performance
- Refreshed SunRice Strategy
- FY18 & Global Market Outlook
- Capital Restructure Update
- Questions
2
FY17: Resilience in a Challenging Market
REVENUE | $1.11 billion | 12% decrease |
NET PROFIT AFTER TAX | $34.2 million | 34% decrease |
DIVIDEND PER B CLASS SHARE | 33.0 cents | Steady Represented payout ratio of 54% |
PADDY PRICE | $415.00 Medium Grain (Reiziq) | 3% increase |
3
Domestic & Global Factors Impacted the Results
Results driven by a combination of several external factors:
lower Riverina rice crop
lower medium grain rice prices
negative macroeconomic trends
weak trading for CopRice & Riviana
In line with smaller C16 crop, Rice Pool revenue was down 41% and it experienced a loss of $32.5 million:
growers were paid a guaranteed fixed priced of $415 per tonne for medium grain to encourage rice production when water availability was low
International Rice revenue was down
2% and NPBT declined 24%:
increased globally traded volumes were offset by challenging economic and trading conditions across key markets
4
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