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TAS Country : May 24th 2012
10 Tasmanian Country Friday, May 25, 2012 News Elders returns a profit of $40.5m ELDERS says the outlook for agriculture is positive, after a large tax win helped the agribusiness and auto- motive interiors supplier return to profitability. Elders this week reported a net profit of $40.5 million for the first half of its 2011-12 fiscal year, compared with a net loss of $14.6 million in the prior correspond- ing period. The result was boosted by a $34.4 million gain from one-off items, in- cluding a $58.3 million gain arising from a suc- cessful objection to an Australian Taxation Office tax assessment. That gain was partly offset by a reduction in deferred tax assets, losses from discontinued forestry operations and other costs. Elders' underlying profit after tax was $6.1 million, down from $7.5 million. The company's rural ser- vices and automotive oper- ations slightly improved their contributions to underlying EBIT (earnings before interest and tax) but income from the jointly- owned Agricultural Land Trust fell. Elders chief financial officer Mark Hosking said above-average rainfall across parts of Australia had affected the rural services results for Febru- ary and March. Mr Hosking hosted the results presentation in the absence of chief executive Malcolm Jackman who is recovering from surgery to a broken leg. Customers had kept their livestock on the pad- dock, where there was abundant feed to fatten the animals, and the rain had made it impractical to transport animals for sale, Mr Hosking said. In many areas it had been too wet to access paddocks for spraying, which had affected demand for herbicide and fungicide, the com- pany said. ''While the short-term is impacted by these events, the outlook for agriculture is positive given resulting improved soil moisture and water availability,'' Mr Hosking said. Mr Hosking said activity in the real estate sector was subdued although off- shore interest remained. Getting back to the basics ROGER HANSON DAVID SQUIBB: Pasture is the cheapest form of feed. THE Grassland Society of Southern Australia is go- ing ''back to grassroots farming'' for its annual conference in Tasmania in July. The three-day confer- ence, at Launceston from July 25-27, will feature four tours of local farms, re- search plots and evalu- ation trials, along with workshops covering topics including grazing manage- ment principles, increas- ing pasture productivity, legumes and nutrient budgeting. Organising committee member Devonport agron- omist David Squibb said the conference would focus on grass and legume pas- tures and how to get the best out of grazing sys- tems. ''We are bringing togeth- er experts and local pro- ducers to highlight the fact that pasture is still the cheapest form of feed and the lowest cost of pro- duction,'' Mr Squibb said. ''There will be a combin- ation of topical speakers giving an industry per- spective and local farmers highlighting what they are doing on their properties. ''It's about getting back to the basics and making it work for improved pro- duction.'' The first two days of the conference will focus on tours of regional properties while the third day will centre on industry and scientific presen- tations. The changing face of pasture farming in Tas- mania will play a key role in the conference. ''Traditionally the Cen- tral Midlands area has con- centrated on phalaris and cocksfoot but with access to irrigation producers are now looking at more pro- ductive pasture systems,'' Mr Squibb said. Details: Phone GSSA of- fice 5433 5324, email @grasslands.org.au or or visit website www.grass- lands.org.au. Pestivirus is an ongoing risk to your herd, but it's easy to protect them. It takes just two shots of Pestigard , for your females and bulls, to start protecting your herd. And if you protected your herd last year, it's now time for their annual booster. Act now and insure your herd, vaccinate with Pestigard*. For more information speak to your Pfizer Cattle Product Specialist on 1800 335 374. *See product leaflet for details of administration and product claims. www.pfizeranimalhealth.com.au Pfizer Australia Pty Ltd, 38--42 Wharf Road, West Ryde, NSW 2114. ABN 50 008 422 348. Registered Trademark of Pfizer Australia. AM594 PAL0603/TC It s easy to stop pestivirus haunting your herd.
May 10th 2012
May 31st 2012