GrainCorp lifts its earnings guidance

Company News

by Rachael Jones

GrainCorp (ASX:GNC) today lifted its earnings guidance for the year ending 30 September 2018 to $255-$270 million underlying EBITDA and $60-$75 million underlying NPAT.

GrainCorp Managing Director and CEO Mark Palmquist said that the company has benefited from the positive performance of the global Malt business and its strong market position in the North American craft beer sector.

The international grain trading book and Liquid Terminals businesses also performed strongly, and they made good progress in the Foods unit within GrainCorp Oils.

However, the Grains business experienced ongoing challenging operating conditions in eastern Australia.

Shares in GrainCorp (ASX:GNC) closed flat at $7.89. 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.