bullish
Ricegrowers Limited (SunRice)- FY23 Earnings Beat and FY24-FY26 Upgrades
SUMMARY
- Ricegrowers Limited, trading as SunRice (ASX:SGLLV), has reported its FY23 results and provided some outlook commentary for FY24.
- The FY23 result delivered adjusted revenue growth of 23%, EBITDA growth of 28%, NPAT growth of 18% and EPS growth of 14%, all above RaaS’ estimates.
- The full-year dividend was raised from $0.40/share to $0.50/share (fully franked yield of 7.3%) and we view this level as sustainable near- term given outlook comments and have increased our assumptions accordingly.
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