Elders’ message to the bush: “We’re in your corner”
Elders has reaffirmed its commitment to regional Australia, saying it stands behind businesses doing it tough in rural areas.
At today’s Annual General Meeting, CEO and Managing Director, Mark Allison, told shareholders the company had delivered a net profit in line with the previous year, despite the challenging conditions in many regional areas.
“I recognise that it has been a most difficult year for many of our customers, particularly in the Eastern States, who have been coping with floods, drought, and more recently, bushfires,” Mr Allison said.
“Over our long history, both Elders and our customers have faced difficult periods,” he said.
“Over that 180 years, we’ve stood by those communities. We still do, and will proudly do so into the future.”
“We understand the importance of keeping regional communities intact and our role in helping them recover after they’ve been significantly impacted by difficult environmental conditions.”
“In some of those areas, our branches aren’t profitable. To play a role in maintaining the integrity of those communities, we don’t close those branches – we absorb the losses because we’re confident those communities will not just recover, but prosper.”
Elders recently announced an underlying after-tax profit of $$63.65 million for the financial year ending 30 September 2019.
A final dividend of $0.09 was also declared, taking the full-year dividend to $0.18.
Eligible shareholders will be paid the dividend on 13 December 2019.
Meagan Burbidge, Communications
0417 841 092