Ricegrowers Limited, trading as SunRice (ASX:SGLLV), has released its FY25 results, delivering EBITDA of $147.7m (+4% above the PCP and in line with RaaS estimates) and NPAT of $69.5m (-6% due to a higher tax rate and 3% below RaaS estimates).
Divisionally, Riviana (FX pressures) and Corporate (continued mill-out rate issues) were below our forecast while the other divisions were well above our forecasts, driven by margin mix (branded sales) and a cost/efficiency focus.
The fully franked final dividend of $0.50/share was above our forecast while the Dividend Reinvestment Plan (DRP) has been reintroduced, this time partially underwritten.
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