SYDNEY, May 11 (Reuters) - Australia's largest listed bulk grain handler GrainCorp Ltd (GNC) on Wednesday reported a half-year profit of A$20.4 million ($15.0 million), down 33 percent from a year ago after it took a hit from restructuring costs.
Underlying net profit came in at A$32 million, down from A$35 million a year earlier, it said.
"It has been a more challenging half for GrainCorp Oils, which has experienced lower crush margins due to high European demand for canola seed off a smaller crop resulting in tighter supply and higher procurement costs," said Mark Palmquist, managing director and CEO, GrainCorp.
GrainCorp said it took $11.8 million in significant items, mainly from restructuring costs in its oils division. ($1 = 1.3563 Australian dollars)
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$7.78 |
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Mkt cap ! $1.729B | |||
| Open | High | Low | Value | Volume |
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| GNC (ASX) Chart |