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ASX to rise; Tabcorp faces rival $4b bid; iron ore slips further

Australian shares climb; BetMakers launches $4 billion offer for Tabcorp’s wagering and media business; base metals rally on strong US, China data; Inghams Group upgrades expected earnings. ....

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Improved Profitability Perks Up Inghams

Improved Profitability Perks Up Inghams
This story features INGHAMS GROUP LIMITED, and other companies. For more info SHARE ANALYSIS: ING
Ingham s Group continues to benefit from strategic initiatives put in place in recent years while the easing of the pandemic presents further upside
-Benefit from recovery in food services and wholesale channel
-Higher feed costs likely to persist for some months
-Woolworths supply contract up for renewal in August

By Eva Brocklehurst
Disruptions from the pandemic seem to be more manageable for Ingham s Group ((ING)). First half gross margins improved by 65 basis points, despite the need to clear inventory and unfavourable trends in feed costs. ....

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SunRice enters New Zealand market

SunRice has expanded into New Zealand.
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Riverina-based SunRice has expanded into the New Zealand market with the $10 million purchase of a dairy nutrition business on the North Island, where the dairy industry is concentrated.
The acquisition will give SunRice s CopRice arm the Ingham Group s North Island feed mill in Hamilton and the Top Cow and Top Calf feed brands.
It represents SunRice s first entry into agribusiness across the Tasman.
The sale is expected to be completed by March next year.
Ingham s company secretary David Matthews said the Hamilton feed mill was a facility dedicated to the production of dairy feed solely for external sale and was non-core to Ingham’s operations. ....

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