Elders Limited (ASX:ELD) says profits in the first two months of its fiscal year are on track with improvement plans.
The agribusiness company has forecast an improvement performance in the current year, after it reported a $395.3 million loss for the year to September.
Chairman John Ballard told today’s AGM results since the end of September were in line with expectations, and the company is expecting the momentum evident in underlying performance in 2011 to continue and be reflected in a much improved financial result in 2012.
He says market volatility makes it difficult to predict when shareholders could expect to see improvement in value.
In the six months to March this year, Elders (ASX:ELD) posted a loss of $11.6 million.
