Full Year 2020 Elders Ltd Earnings Call Transcript
Thank you for standing by, and welcome to the Elders Full Year Financial Results Briefing Conference Call. (Operator Instructions) I would now like to hand the conference over to Mr. Mark Allison, CEO. Please go ahead.
Thank you very much. So welcome to all to the Elders annual results presentation for the FY '20 year. Thank you for joining Richard Davey and myself for the session today.
From an Elders' viewpoint, FY '20 is the final year of our second Eight Point Plan. The Elders' philosophy since the first Eight Point Plan was pulled together has been to control what we can control and not to dwell on what we can't control. And that has been critical for the year we've just seen. The philosophy is also to have a capital and cost structure to allow us to make good returns in bad years and make great returns in good years. Last year is an example of good returns in bad years, where we're close to meeting the record profit in a period of 100-year drought. And this year's results is
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