Agribusiness Elders has announced it expects to post a $510 million full-year loss.
In a statement on the ASX yesterday ahead of its results release next Monday, the company said the loss was the result of a number of impairments and non-recurring items, combined with the statutory loss of $303 million at March 31 this year.
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CEO Malcolm Jackman added: “The company has yet to quantify the exact quantum of the loss in respect to the irregularities uncovered in its international trading business but it does expect to do so before it announces its full-year results.”
Elders shares were down two cents, or 14.8 per cent, at 11.5 cents, yesterday.
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