Elders Ltd
(ASX:ELD) says it won’t be adversely affected by fertiliser supplier HiFert going into administration. Elders holds a 50 per cent stake in the HiFert parent company.
The Agribusiness advised its stake had been written down to nil in March, and the administration will have no significant financial effect upon the company.
HiFert entered administration on Thursday.
For the half year to March 31, 2011, Elders reported a net loss of $11 million.
