Elders reports an $82.8 million underlying earnings before interest and tax (EBIT) and has determined to pay a dividend of 23 cents per share, 30% franked. Full year underlying EBIT guidance of between $180 million and $200 million.
Australian agribusiness Elders Limited (ASX:ELD) today released its half year results for the six months to 31 March 2023.
Elders reported a resilient HY23 performance against a volatile agricultural industry backdrop, impacted by softened livestock trading conditions, weaker crop input prices and unseasonably wet weather. This contrasts with the exceptionally favourable HY22 trading conditions which saw firmer livestock prices, a strong real estate market and ahead-of-season client procurement for winter crop, in response to the global supply chain uncertainty at that time. HY23 continued the similar trajectory seen in 4Q-22 with the industry reverting to a more normalised trading environment.