Australia's Elders eyes best day in over 1-1/2 years on FY22 outlook

Elders

13/03/2022 23:38

** Shares of agribusiness firm Elders Ltd  ELD.AX  climb as
much as 7.8% to A$12.930 - set for their best session since May
18, 2020 if gains hold
    ** Co expects https://www.asx.com.au/asxpdf/20220314/pdf/456zctm71bpywk.pdf
 FY22 underlying EBIT to rise in a range of 20% to 30% from FY21
underlying EBIT 
    ** Co reported https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02451982-2A1338775?access_token=83ff96335c2d45a094df02a206a39ff4
 FY21 underlying EBIT of A$166.5 mln ($121.43 mln)
    ** Performance so far in financial year 2022 has been strong
and exceeds performance after the first five months of FY21 -
ELD
    ** Says co has seen improvement in its retail and wholesale
segments and its agency business continues to "perform strongly"
    ** Stock top gainer on the benchmark S&P/ASX 200 index
 .AXJO  
    ** As of last close, ELD stock down ~2.1% this year
    
($1 = 1.3712 Australian dollars)

 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))