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    Ridley Corporation (ASX:RIC) announces full year results

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    Ridley Corporation (ASX:RIC) announced financial results for the full-year ended 30 June 2022.

    Strong operating result underpinned cashflow.

    Decision to hold inventory to mitigate supply chain disruptions increased working capital; maintenance / ESG capital at ~50 of depreciation with COVID delays.

    Net debt reduced by $60.2m; Net debt / EBITDA = 0.28x.

    Dividend (paid & determined) for FY22 of 7.4cps (68% of NPAT); organic growth (including Boost Capex) of $10.9m.

    Twelve-month TSR of 62%.

    Ridley expects to grow earning and cashflow in the year ahead by increasing sales as we support the growth of our existing customers and win market share; implementing cost savings and efficiency initiatives; and executing on the Growth Plans in place for each business unit.

    Following the announcement the company?s share price rose 0.490%.

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