Elders Rural’s accounts tagged as struggling parent looks to exit unprofitable unit

Thu, 04 Apr 2013

By Jonathan Underhill April 5 (BusinessDesk) – Elders Rural Holdings, the unprofitable rural services company, had its annual accounts tagged by its auditor because of uncertainties including its ability to continue to rely on financial support of 50 percent owner Elders Ltd. The net loss narrowed to $5.89 million in the 12 months ended Sept. 30, from a loss of $10 million a year earlier, the Auckland-based company’s annual report shows. Sales fell to $121 million from $132 million. Notes to the accounts say that based on cashflow forecasts,...

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