Aussie rural group Elders' share price slumps 25%

(Image: Getty)

Mon, 08 Apr 2024

The share price in PGG Wrightson’s second-largest shareholder, Elders, has slumped nearly 25% after downgrading its earnings, blaming bad weather and weak farmgate prices.The South Australian-headquartered agribusiness group, which is listed on the Australian securities exchange (ASX), told the market it expected underlying earnings before interest and taxes (ebit) to be between A$120 million (NZ$131.2m) and A$140m for the full year ending September.That is compared with the ebit of A$171m in the 2023 financial year, down from $232m the p...

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