Ridley Corporation Limited ( (AU:RIC) ) just unveiled an announcement.
Ridley Corporation Limited has announced the sale of its Wasleys Feedmill in South Australia to the Baiada group for A$22 million, with the transaction expected to complete by June 30, 2025. The sale is part of Ridley’s strategy to strengthen its balance sheet and support growth ambitions, despite the feedmill’s significant contribution to EBITDA. The company anticipates a pre-tax profit from the sale and plans to offset reduced earnings through annual cost savings initiatives, while also navigating challenges in its Ingredient Recovery business due to market restrictions and weather impacts.
More about Ridley Corporation Limited
Ridley Corporation Limited operates in the agriproducts industry, focusing on the production and supply of animal nutrition solutions. The company is known for its feed products and has a significant market presence in Australia.
YTD Price Performance: 19.08%
Average Trading Volume: 3,000
Technical Sentiment Signal: Strong Sell
Current Market Cap: $508M
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