Ann: FY20 Results Investor Presentation, page-4

I hear what you say, but is it 'coronavirus-proof?'

It's got what for it is a major new feedmill in Victoria.

Debt has risen.Abattoirs have had to close down for periods due to many workers contracting the virus.

The report today implies that some stock feed is sold to abattoirs.There may still be that unresolved Supreme Court of Victoria civil case involving some South Gippsland dairy farmer who alleges that 20 of his c.157 cows died due to contaminated stock feed.

ING report is out: I haven't read it but demand for poultry products in Victoria must be down due to the lockdown and closure of restaurants. ING also had COVID-19 problems: at one stage KFC (chicken fast food) couldn't even get product.

The 'special product" NOVACQ has had a $21.5 million writedown in the accounts for 2019-20. This may be prudent but it also raises a question mark about whether the technology is all that it's cracked up to be.

The company is also investing in Thailand, a non-English speaking nation with possible geopolitical risks such as the current demonstrations by young people seeking to downgrade the 'power' of the previously revered King.

Is RIC sticking to its knitting?

Any company that has a goodly percentage of its operations in Victoria is a concern because the govt and its Premier are very anti-business, and have done the poorest job in Australia of combating the virus. Consumer sentiment in Victoria can't be good.

I have thought about buying shares in the company but am a bit reluctant to. It isn't that it has cancelled any final dividend, more that the above issues raise question marks. But I'm not an accountant and maybe investing in RIC will see reasonable medium term returns.