El­ders’ share price soars de­spite the drought

The Northern Star - Northern New South Wales Rural Weekly - - COLUMN -

EL­DERS’ share price sky­rock­eted al­most

20 per cent after the com­pany posted strong an­nual re­sults and an an­nual re­turn on cap­i­tal of more than

24 per cent.

De­spite drought con­di­tions grip­ping much of the coun­try, ASX-listed El­ders an­nounced un­der­ly­ing earn­ings be­fore in­ter­est and tax of $74.6 mil­lion yes­ter­day, an im­prove­ment of 5 per cent on the pre­vi­ous year.

“At a lo­cal level, it is cer­tainly very tough for many parts of the coun­try,” El­ders chief ex­ec­u­tive Mark Al­li­son said. “From a busi­ness view­point, the level of di­ver­si­fi­ca­tion that El­ders has from a prod­uct and ge­og­ra­phy per­spec­tive means the over­all im­pact has been lim­ited.

“We be­lieve El­ders re­mains well placed to achieve our tar­get of 5–10 per cent EBIT growth through the agri­cul­tural cy­cle to 2020.”

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.