Feed company Ridley sees net profit second quarter 2012

Numbers down from 2011 profits

Livestock feed company Ridley Inc. saw a net profit of $4 million in the second fiscal quarter of 2012, down from 2011’s $4.9 million, according to the company’s latest financial report.

Increased raw material prices were largely responsible for the drop in profits. Ridley’s Canadian feed operations and U.S. feed operations were both down from 2011 numbers, coming in at $200,000 and $1.8 million as opposed to $800,000 and $2.4 million, respectively, for the quarter.

Net earnings for the first six months of fiscal 2012 are at $4.7 million, compared to $6.6 million in 2011.