Elders Drops 23% in Sydney Despite Higher Profit as Investors React to Costs
Elders Limited shares are facing another test at Tuesday’s open after sliding 22.92% to A$5.55 on Monday. Investors shrugged off a stronger first-half profit, focusing on higher technology and corporate costs for the Australian agribusiness group. Shares finished down A$1.65, according to market data from Intelligent Investor. ASX cash market sat in pre-open at the dateline, with normal trading scheduled for 9:59 a.m. to 4:00 p.m. AEST. That leaves Monday’s close as the last price, following a sharp shift in the market.
