MENU

The Elders Ltd (ASX:ELD) share price is up 10% on FY18 results

The Elders Ltd (ASX: ELD) share price has zoomed up 10% to $8.15 to kick off the trading week as it handed down its FY18 results.

How come?

According to the results, Elders underlying NPAT is up 9%, or $5.3 million, on FY17 to $63.7 million with underlying EBITDA jumping 5% to $74.6 million and a fully-franked final dividend of 9c per share declared.

Elders CEO attributed the strong results to the company’s Eight Point Plan with its retail business posting a $14.5 million margin improvement – driven by acquisition growth in horticulture and organic growth in Southern Australia.

The strategy did see costs rise from $13.8 million to $280.4 million, but this included acquisition costs for Kerr and Co Livestock and TitanAg.

Who else is on the gains?

Elders is joined by Lynas Corporation Ltd (ASX: LYC) around the top of the S&P/ASX 200 gains list today with Lynas’ share price up 5% to $2.30, but Healthscope Ltd (ASX: HSO) takes out the top gong – up 11.3% to $2.31 after announcing a takeover proposal from Brookfield Capital Partners.

Elders is in the age-old agribusiness industry, but if you're looking for something more out of the box here are 3 Revolutionary Aussie Companies to Back for 2018

We’re living in one of the most exciting times in investing history. Innovation and a booming culture of entrepreneurship are constantly creating new companies with the potential to make forward-thinking investors very rich. Now more than ever, one small, smart investment could make a huge difference to your wealth.

That’s why at The Motley Fool we’ve been scrutinizing the ASX to uncover the kinds of companies that we believe could turn into the next Atlassian.

We’ve found three exciting companies that we believe re poised to perform in the new year. Click here to uncover these ideas!

Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Elders Limited. 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 Scott Phillips.

5 ASX Stocks for Building Wealth After 50

I just read that Warren Buffett, the world’s best investor, made over 99% of his massive fortune after his 50th birthday.

It just goes to show you… it’s never too late to start securing your financial future.

And Motley Fool Chief Investment Advisor Scott Phillips just released a brand-new report that reveals five of our favourite ASX stocks for building wealth after 50.

– Each company boasts strong growth prospects over the next 3 to 5 years…

– Most importantly each pays a generous dividend, fully franked.

Simply click here to find out how you can claim your FREE copy of “5 ASX Stocks for Building Wealth After 50.”

See the stocks now