Elders Limited today posted a 35% rise to $51.6 million in its full year after tax profit as the boom in the cattle industry flows through to the agribusiness.
Revenue was up 9% to $1.64 billion.
CEO Mark Allison says high cattle prices drove higher livestock earnings and also real estate sales demand for big cattle properties.
This improved the underlying profit by $5.2 million for its agency services and another $1.7 million for real estate.
Australias largest beef business, S Kidman and Co, looks like it will be bought by billionaire mining magnate Gina Rinehart for $386.5 million.
The business controls 101,000 square kilometres in three states and the Northern Territory, or about 2.6% of Australias agri…
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