May 18, 2010
Elders posts first-half loss
Australian agribusiness, Elders has posted a loss, but it is an improvement on last year's result.
The company has delivered a first-half net loss of nearly AUD166 million (US$146 million), which is about 50% of the previous first-half loss of AUD329 million (US$289 million).
The result has been hit by a big write-down of its forestry assets, but Elders said its cash flow is up. It is expecting business to pick up further in the second half of the financial year, with rainfall conditions everywhere but Western Australia looking positive.
