29 Jul 2009

Ravensdown makes $36m annual profit

8:56 am on 29 July 2009

The Ravensdown fertiliser co-operative has declared a $36 million pre-tax profit for the past year, despite having to contend with a big rise in the cost of raw materials and a 30% drop in sales to farmers.

The company says high international fertiliser prices, a decline in dairy and arable farm incomes and drought contributed to the fall in sales.

Chief executive Rodney Green says its new western Australian business has helped the healthy profit margin.

Mr Green says Ravensdown will be returning $32 million of the proft to its farmer shareholders in the form of a cash rebate and bonus shares.