Australia's Elders eyes worst day in nearly 14 yrs on poor HY trading update

Elders

08/04/2024 02:31

** Shares of Elders  ELD.AX  fall as much as 28.8% to
A$7.00, co's lowest level since Nov.14
    ** Shares on track for worst day since June 22, 2010, if
losses hold
    ** Agribusiness co says 1HFY24 trading was significantly
below expectations due to lower crop protection prices compared
to the prior corresponding period, among others
    ** Adds, underlying EBIT is expected to be between A$120
million ($78.74 million) and A$140 million for full-year FY24
    ** Co currently the top loser on the benchmark  .AXJO  index
    ** About 2 mln shares change hands, 2.9 times the 30-day
average volume of shares
    ** Stock has risen 30.5% this year, as of last close


($1 = 1.5239 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))