Elders Limited
(ASX:ELD) has posted a turnaround full year profit on the back of higher earnings and a 10 per cent reduction in costs.
The agribusiness posted a net profit of almost $3 million in the year to the end of September from a loss of more than $500 million the year before.
Over the year Elders noted an uplift across all product and geographic segments and completed the divestment of its non-core assets.
CEO Mark Allison has described the year as one of significant positive change and says Elders now has a strong platform to create value.
Mr Allison says the company can now focus on directing future cash flows back into reinvigorating and strengthening its business.
No dividend has been declared.
