AGRIBUSINESS Elders Limited has downgraded its earnings estimates for the financial year ending 30 September due to lower rural product sales, livestock prices and sale volumes, and increased gross margin pressure on crop protection products.
Elders told the Australian Stock Exchange this morning that underlying earnings before income tax is now expected to be between $165 million and $175 million, down from the previous guidance range of $180 million to $200 million.
Notwithstanding this revision, target cash conversion of greater than 90 percent of underlying NPAT as at 30 September…
