GrainCorp earnings results at upper end of guidance

Company News

by Jessica Amir

GrainCorp (ASX:GNC) announced its FY18 earnings hit the upper end of its increased guidance range, on the back of an improvement in its malt business and strong contributions from its international trading book.

It reported its net profit after tax (attributable to shareholders) fell 44 per cent, to $71 million in the 2018 financial year (ending 30 September 2018).

It also saw a slump in its revenue, which fell 7 per cent to $4.3 billion.

Its EBITDA hit $269 million.

It reported a final and interim dividend of 8 cents per share (fully franked)

Shares in GrainCorp (ASX:GNC) are trading 1.58 per cent higher to $8.04.

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.