The company has been plagued by several factors this year, including a low rice crop, which has resulted in more job cuts in Leeton and Deniliquin and the ongoing drought which is crippling farmers and communities.

However, after successfully launching on the Australian Securities Exchange in April, the company is listing that move as one of its achievements for the year.

It's stock price rose from $3.60 on December 16 to $4.70 at the end of last week following the release of its financial results.

The SunRice group generated revenue of $543 million for the first half of the financial year and recorded a net profit after tax of $12.5 million.

These results were down 6.8 per cent and 10.2 per cent respectively on the previous corresponding period.

SunRice expects the full-year results to be in line with the 2019 financial numbers, but net profit after tax will likely be lower.

The company's board has confirmed given it intends to maintain a fully franked dividend at similar levels to prior years.

SunRice chief executive officer Rob Gordon said while the tough conditions were having an impact, the company was in good shape.

"SunRice is proud to have been able to deliver this result, which is in large part due to the group's international supply sourcing capability, which has ensured growing global demand is met in key markets," he said.

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"Given the seasonal conditions in Australia, this result is further proof of the resilience of the SunRice group's business model to deliver through the cycle of seasonal variability.

"SunRice, through its 2022 Growth Strategy, has been focused on continuing to build our international supply sources and integrated supply chains, and to further diversify our earnings base - an example of which is the Group's new Lap Vo Mill in Vietnam.

"SunRice also continued to integrate acquisitions into its Riviana and CopRice businesses during (the first half) FY2020, and a key focus remains leveraging the group's strong balance sheet to pursue further strategic merger and acquisition opportunities."

The SunRice board has also approved a proposal to conduct a buyback of B Class shares.

The buyback is being undertaken as part of SunRice's commitment to efficiently manage its capital while maintaining balance sheet flexibility to pursue future growth and investment opportunities. The board believes the current B class share price does not reflect the value of the SunRice business and its future growth prospects.

The buyback may also provide additional liquidity which could facilitate the increase of B class share value over time.

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