GrainCorp 1H FY12 Net Profit $133.7 million
22nd May 2012
GrainCorp 1H FY12 Net Profit $133.7 million
GrainCorp Limited provides grain industry related services in Australia. The Group provides grain and bulk commodities handling and storage for growers, end users and marketing organizations.
The Group also operates grain pools, provides transportation services for bulk commodities along with farming products and flour milling and mixing services.
Consumer staple stock GrainCorp reported a 1H FY12 net profit $133.7 million, a 52.5% surge on the previous corresponding period.
The group said that the result was largely driven by higher earnings from storage, handling and ports activities.
GrainCorp lifted its net profit guidance to a range $185 million to $205 million from 165 million to $185 million previously.
CEO Alison Watkins said “the strong forward program of export bookings at GrainCorp’s ports, coupled with improving malt sales and expected earnings, gives the company sufficient confidence to upgrade the earnings guidance provided to the market in February.”
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