Interesting that the sale of Westbury,.Tasmania in the previous FY only reduced depreciation by A$600,000.
Perhaps partly due to favourable agricultural conditions (notwithstanding flooding) but the RIC CEO Mr Hildebrand seems a great performer with good business acumen.
'Mr Market', cynical as always, may ask 'is this as good as it gets for RIC' but that may underestimate the CEO's agility.
The extent to which RIC considers efficiency extends to insulating a tank and associated piping. I am the last person one would ask about technical matters but presumably the energy savings make this worth it. That sort of capital expenditure is about getting the small things right, so it suggests the company has a CEO and staff who are often searching for further ways to make RIC a bit more efficient.
Will the commencement of Ridley Direct (sales) annoy clients to whom RIC sells?
RIC mentions exports on page 18. I assume this is a very small part of its business, but even with our high labour costs may offer further expansion opportunities over time.
I read elsewhere that hay exports from Victoria are declining rapidly due to previous flooding. Is this helpful for RIC, or irrelevant?
The payout ratio of 61 per cent is quite reasonable.
RIC Price at posting:
$1.96 Sentiment: None Disclosure: Held
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