Elders Limited
(ASX:ELD) says its net profit after tax increased 34.7 per cent to $51.6 million for the 12 month period ending 30 September.
The company has attributed the result to improved sales activity in retail and strong livestock agency performance, supported by a focus on growth and efficiencies.
CEO Mark Allison said the FY16 results reflected solid progress against the company’s long term strategy and focus, including execution of its Eight Point Plan, which is currently in its third year.
Elders expects acquisitions made during FY16 to deliver further benefits in 2017, and its retail arm will continue to pursue acquisition opportunities in the new financial year.
The business has indicated it intends on recommencing dividend payments in December 2017 for FY17.
