Australia’s Graincorp lifts annual profit forecast for second time By Reuters


© Reuters. FILE PHOTO: The logo for GrainCorp, Australia’s largest listed bulk grain handler, adorns a sign at the Burren Junction depot located in the New South Wales town of Burren Junction, located north-west of Sydney in Australia, March 15, 2017. REUTERS/David

(Reuters) – Australia’s Graincorp on Wednesday raised its annual profit forecast for the second time, helped by the robust performances of its agribusiness and processing businesses and expectations of above average East Coast Australian (ECA) crop.

The company said it now expects fiscal 2022 underlying net profit after tax of A$365 million to A$400 million ($254.1 million to $278.5 million), compared with its earlier forecast of A$310 million to A$370 million.

($1 = 1.4364 Australian dollars)

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