At face value 'Mr Market' may not like this downgrading of NPAT and other measures for 1H 24, as the words 'continued softness' are not optimal.
Given 'business transformation costs' were $6.9 million in 1H 24, but are not included in the estimated NPAT for FY 24, the true 'end figure' NPAT estimate may be c.A$48 million. I assume this means lower dividends.
However parts of the NSW graingrowing belt - normally the most important to GNC with Victoria second and Queensland a distant third - have received or are likely to receive reasonable to good rainfall, buttressing soil moisture.
Some other major graingrowing nations such as Russia have experienced excellent or good weather conditions so that's unhelpful.
GNC Price at posting:
$8.41 Sentiment: Hold Disclosure: Held
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