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GrainCorp predicts less crop
(MENAFN) GrainCorp's full-year income was boosted by a huge grain harvest and increased volume of exports, however, 2018's crop is predicted to be largely smaller because of extended dry weather.
This year the company has earned a net profit of 125.2m USD in Jan-Sep period, and increase from the 31m USD from last year.
CEO said: "Across our grains businesses, we benefited from increased storage, handling and merchandising opportunities, aided by the large harvest."
"We successfully executed a large grain export program despite persistently high global crop supplies and depressed grain prices, which continued to be a headwind for Australian growers." He added.
This year the company has earned a net profit of 125.2m USD in Jan-Sep period, and increase from the 31m USD from last year.
CEO said: "Across our grains businesses, we benefited from increased storage, handling and merchandising opportunities, aided by the large harvest."
"We successfully executed a large grain export program despite persistently high global crop supplies and depressed grain prices, which continued to be a headwind for Australian growers." He added.
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