Agribusiness Elders Limited
(ASX:ELD) has advised that the Federal Court decision issued last month which dismissed the Australian Tax Office (ATO) appeal, will not be contested by the ATO.
Elders is now set to gain $65 million to its first half net profit.
The dispute involved capital gains received from the purchase of the Bristile building products division at the end of 1997, controlled by the Elders owned company Futuris.
In the first half of the 2012 financial year Elders reported a net loss of $391.2 million.
