Elders shares jump as underlying profit up

Agribusiness Elders has seen its full-year profit drop 38 per cent to $71.6 million, but its shares have still jumped.

Agribusiness Elders has seen its full-year profit drop 38 per cent to $71.6 million. (AAP)

Elders shares have jumped more than nine per cent after the agribusiness lifted full-year underlying profit 9.1 per cent to $63.7 million.

Net profit for the 12 months to September 30 dropped 38 per cent to $71.6 million, following the acquisitions of chemical supplier TitanAg and real estate agency Kerr and Co, but revenue increased 2.0 per cent to $1.61 billion.

While falling cattle prices hit the company's livestock agency division, margins at its retail unit rose 11 per cent despite a dry winter cropping season thanks to the acquisitions in horticulture as well as organic growth.

Real estate, financial services and feed and processing also improved, while solid wool performance and increased sheep volumes partially offset the decline in livestock agency revenue.

The company will pay a fully franked final dividend of 9.0 cents, up from 7.5 cents a year ago.