GrainCorp breaks harvest records

Company News

by David Chau

Bulk grain handler, GrainCorp Limited (ASX:GNC) says it has achieved near record volumes of grain in the eastern states of New South Wales, Queensland and Victoria.

The company says this was its biggest winter harvest since the 2011 financial year, despite an extended drought in north western NSW and Western Australia.

General Manager for Operations and Storage, Nigel Lotz, says grain quality has “also been good, especially across canola and wheat”.

Prior to harvest, GrainCorp spent $21 million on improving stackers and equipment. The company has also boosted the number of casual employees by 60 per cent, compared to last year.

GrainCorp posted a net profit $30.9 at 30 September 2016.

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.