Elders Limited
(ASX:ELD) says it has identified discrepancies in the reporting of livestock values in its live cattle export division.
The issues will require further assessment before any impact on the current financial year results can be determined, although Elders does not believe there will be a material impact on its outlook for future financial periods.
The rural services company says its financial year concluded yesterday and it will make a further announcement should its investigation reveal material discrepancies.
Elders has also advised that seven senior employees in the cattle export trading division, including its General Manager, have resigned.
CEO Malcolm Jackman says the change in personnel provides the company with an opportunity to reshape its broader trading business and better integrate it with the Elders Rural Services Network.
Elders reported a $303 million loss in the first half of its 2013 financial year.
