Ann: GrainCorp Investor Presentation 1H25, page-2

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    Guidance for the minimum underlying NPAT for FY 25 has slightly risen from $60 million to $65 million. This excludes 'business transformation costs' that in 1H 25 were $11 million.

    However given underlying NPAT in 1H 25 was $69 million, this suggests 2H 25 will incur a loss.

    The outlook for southern NSW and Victoria is poor with much rain needed in the next four weeks as there's apparently a lack of subsoil moisture from what I've read.

    Pleasingly, however, northern NSW and GNC's least important state of Queensland have received required rains.
 
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