Half Year 2024 Ridley Corporation Ltd Earnings Call Transcript
Good morning to you all, and thank you for your attendance today. Richard and I are pleased to provide you with our performance results for the first half and update you on the progress that we've made regarding the growth plan. We'll be taking you through the slides that were uploaded on the ASX website this morning.
Starting with page 2, the financial summary. The business recorded its ninth consecutive half of earnings growth in our key metric underlying EBITDA, which was $48 million, a year-on-year increase of 8.8%. I'll speak to the performance of each of the segments in the next few pages. Our cash conversion reflected a lower payables number at the half due to our procurement strategy, and Richard will elaborate on this in the financial section.
And lastly, on this page, I'd like to bring your attention to the fact that the Board determined a dividend of $0.044 per share in line with the capital allocation framework payout ratio, which is a 10% increase on the PCP.
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