bullish
Ricegrowers Ltd - A consolidation year as headwinds = tailwinds
SUMMARY
- RaaS Research Group has published an update report on agri-FMCG group Ricegrowers, trading as SunRice (ASX:SGLLV) following the release of its FY24 result in which it delivered a 25% increase in FY24 (RaaS-adjusted) EBITDA to $141.7m.
- The key surprise over H2 FY24 was Rice Food, with EBITDA +44% on the back of lower cost of goods (COGS), higher prices and new product launches.
- All divisions improved EBITDA over the year, with International +42% and CopRice +39% the standouts.
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