February 14, 2018 / 10:43 PM / 3 months ago

Australia's Graincorp says FY18 profit to fall on dry weather

Feb 15 (Reuters) - Australia’s Graincorp Ltd, said on Thursday it expects underlying profit for its fiscal year 2018 to be lower than the prior year’s performance due to prolonged hot weather in eastern Australia.

The country’s largest listed bulk grain handler expects underlying profit after tax for fiscal 2018 to be between A$50 million ($39.63 million) and A$70 million, below than A$142 million recorded in fiscal 2017, it said in a statement.

Underlying earnings before interest, depreciation and tax are expected to come in between A$240 million and A$265 million, below fiscal year 2017’s actual performance of A$390 million, it added. ($1 = 1.2618 Australian dollars) (Reporting by Aaron Saldanha in Bengaluru, editing by G Crosse)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below