Given 'Mr Market' likes to look six to nine months ahead, the page 22 FY 25 outlook is very pleasing.
The performance of relatively newly acquired Oceania Meat Processors seems to be good.
Good growth in packaged dog food sales and ingredient recovery of six to seven per cent.
The aqua nutrition side of RIC continues to disappoint. RIC has oriented its Brisbane suburban plant production away from this aspect. Does the prawn feed business division have an assured feature?
I don't know what consensus analyst expectations were for 1H 25 but overall it appears to be a reasonable result given the challenges in the bulk stockfeeds section.
In a separate announcement, RIC is entering into a further retention agreement with CEO Mr Quinton Hildebrand, an initiative the vast majority of SH would support given his excellent performance.
The dividend is increasing so that should please retail holders.
RIC Price at posting:
$2.76 Sentiment: Hold Disclosure: Held
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