Elders Limited (ASX:ELD) has reported a net loss after tax of $93.6 million for the year to September.
Sales revenue was up to $2.26 million from the previous year’s $1.95 million.
Managing director Malcolm Jackman says while the statutory results show the costs associated with non-core assests and their divestment, particularly forestry, the underlying results show a turnaround by the company’s traditional rural service network operations with a profitable performance.
He says the end result of the forestry asset divestment program will be a company with substantially lower debt.
Elders won’t be paying a dividend.
