Ridley Q3 profit slips by one third

Canadian animal feed firm Ridley Inc. posted a third-quarter profit of US$3.9 million, down from $5.7 million in the year-ago period but in line with its expectations as it grappled with high energy costs, hurricanes and supply shortages.

Revenue increased to $131.1 million from $121.7 million said the company, which reports in US dollars.

Ridley Nutrition Solutions Division has been dealing with high costs for energy, difficult transportation logistics because of the hurricanes in the US southeast, and supply shortages for some feed ingredients, explained CEO Steve Van Roekel.

Winnipeg-based Ridley makes and distributes a range of animal nutrition products.

Editor WorldPoultry