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 with a passion for equities and funds management. As Head of News, she has been a broadcast journalist for over seven years, specialising in finance. She has been a journalist with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for regional Channel 7 and 9. She also previously worked as a financial planner and real estate agent.