News
The share prices of South Australia’s largest 10 publicly listed companies have risen by an average of 25 per cent in 2020 to outperform the market in a tumultuous year for stocks globally.
Business
South Australian agribusiness Elders has reported a healthy statutory profit after tax of $122.9 million for 2019-20, an 80 per cent increase on the previous financial year.
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Elders’ net profit has slipped 3.7 per cent to $68.9 million, but its suite of new purchases has helped offset drought-ravaged cropping and wool volumes.
Adelaide-based Elders has made a $187 million scrip and cash offer for unlisted private wholesale buying group, Australian Independent Rural Retailers.
Agribusiness Elders has announced it will no longer undertake exports of live cattle to long-haul destinations, and will divest its short-haul and air-freight live animal export businesses.
Agribusiness Elders is raising $102 million from investors so it can buy back the group’s hybrid securities and simplify its share structure.
