Elders Limited (ASX: $ELD) Half-Year Financial Report for the period ended 31 March 2024

Elders Limited (ASX: $ELD) has reported its half-year results for the period ended 31 March 2024. The consolidated profit after tax attributable to parent entity members was $11.6 million, a decrease from $48.8 million in the previous year. The company's half-year financial report should be read in conjunction with the 2023 Annual Financial Report.

Executive Commentary on Half-Year Performance

Elders' Managing Director & Chief Executive Officer, Mark Allison, stated that the company's performance in the first half of FY24 was influenced by challenging seasonal conditions, cautious client sentiment, softening crop input prices, and lower livestock prices. However, he expressed optimism for a stronger second half performance, expecting improved trading conditions with a return to average seasonal conditions, benefiting rural products margin, stable livestock prices, and margin relief for regional residential properties.

Summary of Half-Year Financial Report and Outlook

Elders Limited (ASX: $ELD) reported a subdued half-year performance, with a consolidated profit after tax of $11.6 million. The company expects a stronger second half performance, anticipating improved trading conditions with a return to average seasonal conditions, stable livestock prices, and margin relief for regional residential properties. Elders remains committed to its sustainability priorities and aims to increase its points of presence through acquisitions and greenfield expansion. The company also plans to invest in its Systems Modernisation program and other transformational initiatives to improve supply chain efficiency.