Elders financial performance update

Elders (ASX:ELD) has released its financial results for the year ending 30 September 2024, showing a notable decline in profit and revenue. The company reported a consolidated profit after tax of $45.1 million, a significant drop from the previous year's $100.8 million. Revenue also decreased by 6% to $3.13 billion, as the agribusiness faced challenges including low livestock prices and reduced client sentiment.

Elders' strategic outlook and future plans

Elders (ASX:ELD) faced a challenging financial year, with significant declines in both profit and revenue. However, the company has demonstrated resilience through diversification and strategic initiatives. Elders expanded its network and product offerings by opening new points of presence and acquiring bolt-on businesses. The launch of Elders Wool, an automated wool handling facility, marks a substantial investment in the wool industry. The company remains focused on its Eight Point Plan for sustainable growth, while continuing to modernize its systems and improve operational efficiency. With favorable seasonal conditions anticipated in FY25, Elders aims to control costs and ensure sustainable growth. The agribusiness remains committed to innovation and sustainability, as evidenced by its repeated recognition as a trusted brand and its ongoing leadership succession planning to secure future growth.

Executive insights on Elders' performance

Despite a challenging first half characterized by low livestock prices and reduced client sentiment, Elders maintained resilience through product, channel, and geographical diversification.