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Elders Ltd share price hits new 10-year high of $5.41 per share

The Elders Ltd (ASX: ELD) share price hit a new 10-year high of $5.41 this morning.

Shares of the agricultural supply company are up 33% in the past year, and 115% over the past 10 years.

According to Google Finance, Elders Limited is engaged in the provision of livestock, real estate and wool agency services; services and farm inputs; financial services; real estate franchise; live export operations; feedlotting of cattle; grain trading, and red meat supply chains.

The Company’s segments include Network, which includes the provision of agricultural retail products; Feed and Processing, which includes the Australian cattle feedlot near Tamworth in New South Wales (Killara Feedlot), the Indonesian cattle feedlot near Lampung (PT Elders Indonesia), and Elders Fine Foods, which is involved in the importation and distribution of Australian and New Zealand food products throughout China; Live Export, which facilitates the trades of dairy, beef feeder, beef slaughter and breeding cattle.

Shares have rocketed higher after the company announced a 56% increase in profit at the half year. Elders also recently completed the divestment of its livestock business and has an acquisition in progress.

At a share price of $5.41, Elders trades on 9 times forward earnings estimates, and does not pay a dividend.

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Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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