GrainCorp Ltd
(ASX:GNC) has posted a 66 per cent improvement in first half net profit and boosted its full year guidance.
In the six months to 31 March the grain producer’s net profit rose to $88 million, from $35 million the year before.
CEO and managing director Alison Watkins says earnings were boosted by the record eastern Australian winter crop harvest.
Full year net profit is now expected to reach between $145 million to $165 million, up $30 million from previous guidance.
A fully-franked interim dividend of $0.15 per share has been declared in addition to a fully-franked special dividend of $0.05 cents per share.
In the 2010 financial year GrainCorp posted a net profit of $80.2 million.
