SUNRICE believes it is on the right track when it comes to the company's financial performance after releasing its latest figures to the public.
The business has released its financial results for the period ending October 31, with SunRice Group chief executive officer Rob Gordon saying the company was moving in the right direction.
"After successfully navigating one of the most difficult periods in our history, with the dual challenges of COVID-19 and two consecutive years of extremely low Riverina production, I am pleased we are now seeing a strong recovery in financial performance," he said.
"Despite the challenges of the past two years, we have continued to make investments in strategic and organic growth initiatives, and a number of these are now realising benefits.
"We expect our recovery to accelerate throughout the remainder of f(the financial year), but we continue to face a number of challenges, including unprecedented escalation in freight rates and shipping disruption due to COVID-19, and operational challenges in CopRice which could impact the scale of this recovery."
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Mr Gordon said the first half of the current financial year was driven by a number of factors.
Mr Gordon said SunRice anticipated in the second half of the financial that there would be an acceleration in the recovery that started in the first half.
He said SunRice would continue to look for synergies with its recently acquired businesses, so it can deliver additional benefits and contribute positively to consolidated earnings.
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