Elders Hybrids

Elders reported another dreary full year result recently (it has a 30 September year end), reporting a net loss of $61m. Net debt also remains high, at $295m, well in excess of Elders' $61m market capitalisation. Chief executive Malcolm Jackman must be growing tired of delivering such slim progress, although he remains upbeat. Indeed, he confirmed that Elders are close to refinancing its bank debt which falls due at the end of the year. The ‘for sale’ sign is now clearly hanging around each of Elders’ remaining divisions: Forestry, Rural Services and Automotive. The sale of forestry assets has...

Elders reported another dreary full year result recently (it has a 30 September year end), reporting a net loss of $61m. Net debt also remains high, at $295m, well in excess of Elders' $61m market capitalisation. Chief executive Malcolm Jackman must be growing tired of delivering such slim progress, although he remains upbeat. Indeed, he confirmed that Elders are close to refinancing its bank debt which falls due at the end of the year.

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