Australia's Elders hits 12-1/2-year high on strong HY results, FY outlook hike

Elders

23/05/2022 04:03

** Shares of agribusiness firm Elders Ltd  ELD.AX  climb as
much as 11.8% to A$15.32, their highest since Oct 28, 2009
    ** Co posts a 34% increase in net profit after tax for the
first half of 2022 to A$91.2 mln ($64.59 mln)  urn:newsml:reuters.com:*:nASX4CTFmk
    ** Records HY sales revenue growth of 38% and announces a
40% increase in interim dividend to 28 Australian cents per
share
    ** Co also upgrades its full-year underlying EBIT outlook to
30%-40% above FY21, from the earlier range of 20-30%
    ** Shares mark their biggest intraday gain since March 14
    ** As of last close, stock up 11.8% this year
    
     ($1 = 1.4120 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))