Re the competitive environment, the CEO said there was an element of regionality. RIC has the same tonnage sold to five large broiler operators.
RIC has long term agreements in place. To some degree it is sheltered from week-to-week competitiveness.
RIC doesn't sell to one large broiler farm operator in NSW.
RIC has been constrained for some time in producing pet food, but with the Narangba change including a new packaging plant, RIC is a bit more of a sophisticated partner for supermarkets and pet specialty stores. In dog feed, 40 per cent of ingredients are meat protein that RIC produces. It is taking market share from others.
The $5 million in cost savings will flow through in FY 26. Negligible in FY 25.
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