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Ridley Corp reported a 9% rise in underlying EBITDA to A$55.4 million for the half year, led by a 25% gain in its bulk stock feeds segment. Its packaged and ingredients segment fell 28% on lower protein meal prices and processing problems at its Maruto and Timaru plants.
Lower protein meal prices and processing disruptions show the margin pressure feed millers face when meal values fall. Stronger bulk feed volumes point to steady domestic ruminant and monogastric demand.
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