ELD -6.67%: A typical sort of results day reaction for Elders (unfortunately), after reporting 1H earnings that were softer than expected, driven by weakness in its retail products business that they put down to cyclical and seasonal factors!
- Revenue $1.41 billion, +5.3% y/y – missed expectations
- Underlying profit $38.2 million – missed expectations
- Interim dividend per share A$0.180
The impact of dry conditions across Victoria and South Australia is worse than expected, with softness in Crop Protection the main culprit for the miss. Elders said that Livestock prices and demand is expected to remain strong, and a return to average seasonal conditions for the 2025 winter crop is forecast.
MM remains neutral at best towards ELD
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