GrainCorp (ASX:GNC) see a rise in first half net profit

Company News

by Rachael Jones

Agribusiness GrainCorp (ASX:GNC) has reported a profit after tax of $388 million for the half-year ending 31 March 2020 compared to a loss of $58.9 million in the previous year.

The period saw the sale of the Australian Bulk Liquid Terminals business and the successful demerger of United Malt.

Underlying EBITDA was $183 million and underlying NPAT was $55 million up from $48 million loss on the prior corresponding period.

The Company does not propose to pay an interim dividend for the half-year.

Shares in GrainCorp (ASX:GNC) are trading 6.38 per cent higher at $3.50.