Elders first half profit plunges 34%

Company News

by Anna Napoli

Elders (ASX:ELD) first half net profit has plunged 34 per cent to $26.4 million when compared with the year earlier period.

Earnings were also lower, down 27 per cent to $33.5 million.

Revenue fell from just under $750 million to $737.5 million

Elders says hot and dry conditions across Australia resulted in reduced Summer cropping denting retail sales.

The company has declared a fully franked interim dividend of 9 cents per share declared, consistent with prior period

Looking forward, the company expects a return to average Winter cropping season with underlying net profit in the range of $61 to $64 million for Financial Year 19.

Shares in Elders (ASX:ELD) are trading 0.15 per cent higher at $6.59.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.