Elders posts $466.4m loss on restructuring costs

Elders posts $466.4m loss on restructuring costs

Agribusiness Elders Limited (ASX:ELD) has posted a $466.4 million net loss for the fifteen months ending in September, as the cost of a major restructuring was reflected in its bottom line.

Excluding these costs and other underlying items, the company recorded a loss for the period of $51.8 million.

But chairman Stephen Gerlach said the company’s moves to focus its efforts on the Elders brand and network will pay off in the year ahead.

“There is no doubt that Elders has completed the year in a stronger position than which it began,” he said

Elders this year changed its reporting period from the 12 months ending in June to the 12 months ending in September, so its results reflect the 15 months since the last financial results were released.

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Tags agriculturereal estateEldersrestructure plan

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