"We have evaluated assets and operations which are peripheral to that or which are unlikely to meet our performance targets.

"The decision to discontinue or sell these assets and operations is another advance in concentrating our resources around the Elders core operations which offer the greatest value for our clients and shareholders."

Mr Guerin said that the operations and projects to be discontinued include citrus packing and other horticultural supply chain operations which are sub-scale; supply chain operations in seed and fodder; non-indent greasy wool trading and fuel distribution.

"Elders will seek to increase its participation in the horticulture, and dairy industries as a supplier of merchandise and other inputs," he said.

"Both are prime markets for agricultural inputs and Elders has the opportunity to increase its penetration rates to match the large market share it has built in the supply of inputs to in areas such as broadacre cropping and livestock."

A restructuring of Elders management structure has also been initiated to align reporting and support with network performance objectives.

These objectives include increased relevance to clients, increased sales competitiveness, improved operational efficiency and ongoing gains in financial performance.

The restructuring has included the replacement of a state office-based management structure to a more tightly focussed regional management structure, with regional management to be located in their areas of responsibility, thereby moving decision making closer to Elders’ clients.