Agribusiness Elders (ASX:ELD) remains on track to deliver consistent earnings in the September 2018 Financial Year despite current dry weather conditions and declining cattle prices.
Current expectations are underlying earnings before interest and tax (EBIT) to be in the range of $70m to $74m (compared to FY17 underlying EBIT $71.0m).
Underlying net profit after tax (NPAT) for the 12 months to 30 September 2018 is expected to be in the range of $59m to $63m (compared to FY17 NPAT of $58.4m).
Despite cattle prices being down - sheep and wool prices have remained strong and consistent with the prior year.
Shares in Elders (ASX:ELD) down 13.79 per cent to $7.19.