GrainCorp Limited’s (ASX:GNC) first-half net profit has lifted by more than 50 per cent to $133.7 million for the six months to March 31 this year.
The result reflects higher earnings from of its four core businesses.
Graincorp’s chief executive officer Alison Watkins says, “Graincorp’s ports benefited from handling record grain exports of 5 million tonnes during the (first) half.”
The grains handler also upgraded its full-year forecast expecting a net profit of between $185 and $205 million as it anticipates strong exports and improving sales in malt.
GrainCorp declared a fully-franked interim dividend of $0.15 per share.
Due to its strong performance, the company will also issue shareholders a fully-franked special dividend of $0.15.
GNC Price at posting:
$9.46 Sentiment: None Disclosure: Held
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