LEETON-BASED business SunRice has achieved an increase in revenue and profit in the past 12 months, compared with the same period last year.
The company reported consolidated revenue for the group of $1.25 billion, up 8.3 per cent compared with the same period last year.
Net profit after tax was $49.2 million, 46.8 per cent higher than the 12 months to 30 April 2014.
SunRice chief executive officer Rob Gordon said the full year financial performance was an outstanding result.
“In the three years since introducing the group’s growth strategy in 2011-12, the results have exceeded expectations,” said Mr Gordon.
“In that period we have grown consolidated revenue by $250 million or 25 per cent, with a strong compound annual growth rate of 7.6 per cent. (We have also) increased net profit after tax by $26.5 million or 117 per cent; and increased the full year paddy price for medium grain (Reiziq) by 43.5 per cent from $275 per tonne in 2011-12 to $394.62 per tonne in 2014-15.
“These results reflect SunRice’s substantial platform for accelerated growth, which will benefit our shareholders, growers and the communities we support.”
The company also announced a final crop year 14 (C14) paddy price of $394.62 per tonne for medium grain and $524.62 per tonne for Koshihikari.
“We are very pleased to announce such a strong final C14 paddy price,” SunRice chairman Laurie Arthur said.
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