Ben Perry and Lucy Purcell attended the Agribusiness Australia NSW event yesterday. Over 60 people heard Mark Allison, CEO of Elders, speak about his company's past, present and future.
From 2008 through to 2013, Elders struggled to survive, posting huge losses most years and divesting non-core assets to pay down hug debt levels. Since the 2013 financial year, the company has focused on agribusiness, cutting debt further, strengthening the balance sheet and simplifying the business. Elders now focuses on financial and agency services, retail products, feed & processing services and live export services. That includes selling farm supplies, acting as an agent to sell agricultural products, providing loans and insurance, and short and long haul exports.
There was a common theme of positiveness about the future of Australia’s agribusiness and agriculture from all who attended.