Australia's Elders at bottom of ASX 200 as adverse weather affects outlook

Elders

13/11/2022 23:31

** Agribusiness Elders Ltd  ELD.AX  falls as much as 12.7%
to A$11.56, their worst intraday pct drop since Nov. 13, 2018
    ** ELD worst performing stock in the ASX 200 benchmark index
 .AXJO ; trades at its lowest level since Sept. 7
    ** Adelaide-based firm says recent extreme rainfall across
eastern states resulted in uncertainty in affected cropping
regions, reaching full harvest potential
    ** Expects high demand for agricultural commodities to
create favourable trading conditions in 1H23
    ** Says FY22 sales revenue up 35% to A$3.45 bln ($2.31 bln),
while underlying profit after tax up 1% to A$152.2 mln
    ** Announces final dividend of 28 AU cents per share
    ** Also added that CEO and MD Mark Allison would retire
mid-November next year
    ** ELD up 8.1% this year as of last close, vs a 3.9% decline
in the ASX 200 benchmark 
($1 = 1.4957 Australian dollars)
 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))