Elders Limited
(ASX:ELD) has significantly widened its full year loss to $505.2 million, compared with last year’s 60.6 million loss.
The agribusiness says the result was impacted by difficult market conditions and impairments primarily driven by divestments and restructure to pure-play agribusiness.
But it wasn’t all bad news – Elders reduced net debt for a fifth consecutive year, down 14 per cent to $255.2 million.
Elders anticipates that a return to more normal seasonal conditions will drive improvement in demand for farm supplies and lift prices for livestock.
Elders did not pay a final dividend.
