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.

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.