Improved yield from Rural Bank

The wet and slightly warmer than usual summer in eastern Australia is producing improved returns for farmers, and also improved returns for Rural Bank.

The half year profit for Elders Limited, published yesterday, shows that the bank recorded a contribution to the rural services firm's net profit of $10.9 million in the six months to March 2010. Elders owns 40 per cent of Rural Bank.

Elders reported a profit contribution from Rural Bank of $10.9 million in the six months to March 2009, when it owned 50 per cent.

This implies a net profit for Rural Bank of $27.2 million in the March 2010 half, up from $22.39 million in March 2009.