Australia's Elders extends losses to hit 3-yr low as HY profit sinks

Elders

16/05/2023 02:30

** Shares of Elders Ltd  ELD.AX  slump as much as 5.2% to
A$6.825, their lowest since Jan. 15, 2020 
    ** Agribusiness co posted half-year statutory net profit
after tax of A$48.8 mln ($33.10 mln), down 46.5% from a year
earlier and missing UBS estimate of A$56 mln
    ** ELD forecasts FY23 underlying EBIT to be between A$180
mln and $200 mln, compared to A$232.1 mln in FY22
    ** More than 1.8 mln shares change hands, twice the 30-day
average volume 
    ** Stock down 29% this year, as of last close

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))