Ravensdown to make early rebate payment

Greg Campbell
Greg Campbell
Ravensdown has announced it will again make an early initial rebate payment in June, giving $20 per tonne in cash to shareholders.

A strong profit forecast position at the end of February, coupled with progress made over the past four years, meant the early rebate was possible, chief executive Greg Campbell said.

Last year, Ravensdown announced in May it was paying an interim rebate of $21 per tonne in the first week of June.

This year, it was decided to make the announcement earlier, ahead of the autumn buying season and also its annual financial results, giving farmers the confidence to plan ahead, Mr Campbell said in a statement.

``In uncertain times, it's important to give farmers certainty when we can,'' he said.

Chairman John Henderson attributed the ``positive momentum'' the company
was building to its solid strategy.

Ravensdown has seen a turnaround in fortunes since 2013 when shareholders missed out on a rebate for the first year in the company's then 35-year history, after a loss-making operation in Australia - which it later exited - caused a profit plunge.


 

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