Agribusiness Elders has posted a higher full-year profit and dividend, helped by the purchase of a wholesale buying group.
The company on Monday declared net profit after tax was up 22 per cent to $149.8 million for the year to September 30.
The figures were helped by the first full financial year of ownership of Australian Independent Rural Retailers.
Elders' property arm improved gross margin by 33 per cent. This was helped by soaring demand for farmland and residential property.
High prices for cattle and sheep are expected to help the company through the first-half of the current financial year.
Elders said there were good opportunities for more acquisitions.
The final dividend was 22 cents per share, 20 per cent franked. This was more than the same payout last year of 13 cents per share, fully franked.
Company shares on the ASX were down 0.83 per cent to $12.00 at 1409 AEDT.
