SYDNEY, Nov 16 (Reuters) - Australia's largest listed bulk grain handler GrainCorp Ltd (GNC) on Wednesday reported a full-year profit of A$30.9 million ($23.33 million), down 3.7 percent from a year ago, amid a smaller crop in eastern Australia.
Underlying net profit came in at A$53 million, up from A$45 million a year earlier, in line with market guidance provided in February, it said.
"Our diversified business model has allowed us to deliver a solid performance in the face of some significant external headwinds," GrainCorp Chief Executive Officer Mark Palmquist said. "These challenges have largely affected the grains and oils businesses, however they have been partially offset by another strong performance from GrainCorp Malt."
He said GrainCorp expected a return to a stronger year in the current financial year, driven by higher volumes.
($1 = 1.3245 Australian dollars)
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$7.63 |
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Mkt cap ! $1.698B | |||
| Open | High | Low | Value | Volume |
| $7.70 | $7.71 | $7.62 | $2.062M | 269.3K |
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