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Company News Summary

Elders Provides FY19 Update

14 Mar 2019  |  19:00:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: FY19 Update

Elders updated that despite challenging conditions experienced with the ongoing drought in the eastern states and flooding in northern Qld, it expects, having regard to publicly available forecasts from the Australian Bureau of Meteorology and the Australian Bureau of Agricultural and Resource Economics and Science, to deliver underlying earnings before interest and tax (EBIT) for the 12 months to 30 September 2019 in the range of $72m to $75m. As reported, underlying net profit after tax (NPAT) for the 12 months to 30 September 2019 is expected to be in the range of $61m to $64m. The Company further updated that it expects the 2019 first half result for the 6 months to 31 March 2019 to be materially lower than the prior corresponding period (pcp) EBIT of $45.7m.

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