Half Year 2024 Ricegrowers Ltd Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Andrew Tan - Canaccord Genuity - Analyst : Paul, Dimitri, thanks for your time and congrats on the great results. Just three quick ones from me. Maybe first off, we'll start on the international rice business. I appreciate lots of moving parts there. But could you please just detail couple of the key recent earnings drivers and if these are sustainable or not?

Question: Andrew Tan - Canaccord Genuity - Analyst : Great. Thanks. Now just on Riviana, that had quite a tough period. Could you please talk to some of the initiatives that you guys are looking to do to regain margin as well as drive future earnings?

Question: Andrew Tan - Canaccord Genuity - Analyst : Awesome. Just one last one then on CopRice. Could you please just talk to the differences in the operating performance and outlook for the companion animal and then also the stock feed business?

Question: Andrew Tan - Canaccord Genuity - Analyst : Thanks so much for your time, guys, and again, congrats on the great results. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. DECEMBER 14, 2023 / 10:30PM, SGLLV.AX - Half Year 2024 Ricegrowers Ltd Earnings Call

Question: Finola Burke - RaaS Advisory - Analyst : Thank you. Good morning and congratulations on the terrific results. I had a question on the dividend. Should we assume that having increased the interim dividend by 50% and given the company's history of only increasing lower than reducing dividends, but at the very least, we should expect to see a steady final dividend? And could you talk a little bit about the factors in framing that dividend policy?

Question: Finola Burke - RaaS Advisory - Analyst : Thank you.

Question: John Burgess - RaaS Advisory - Analyst : Thanks. I'm just interested in your -- the overseas tenders, the increase in overseas tenders. Is that just Australian rice? Or is that a range of rice varieties and types?

Question: John Burgess - RaaS Advisory - Analyst : Okay. Thank you. Just interested in the turnaround in the -- let's call it the legacy CopRice business. Would you consider that turnaround complete? Or is there still a runway to achieve the sort of ROEs that you like in that business?

Question: John Burgess - RaaS Advisory - Analyst : Great. And just on working capital. The current -- you consider -- given you've had a couple of much better harvest now in a row and you build that working capital level up as a result. Do you think the levels we see now are pretty much the sustainable levels for the next couple of years?

Question: John Burgess - RaaS Advisory - Analyst : Got it. And maybe just a final one. It's probably more complex than this, but I'm just interested in since the Indian export bans in rice in July, is that -- have you seen that -- is that a net positive for your business? And there's obviously some pros and cons and all these dislocations. But is that a net positive? And if those bans subside, is that a risk?

Question: John Burgess - RaaS Advisory - Analyst : Okay. Thanks for your time. Great result.