[3 August/ Rural News]

Ravensdown Chairman, John Henderson said he thought the dairy sector downturn was going to be a real challenge for the fertiliser co-operative this year, but it had not materialised. Mr Henderson added that farmers appeared to be reacting to reduced cash flows by looking after their pasture rather than buying in supplementary feed. Ravensdown announced a profit before tax and rebate of $62 million for the year to May 2016, up from $26 million in the year to May 2015. Mr Henderson said $44 million would be returned to farmers and the rural economy in the form of rebates. Mr Henderson added that it was a very satisfying result after a three year strategy of focusing on the fundamentals to make incremental improvements.