May 8, 2019 / 10:34 PM / 2 months ago

Australia's GrainCorp posts first-half loss as drought weighs

May 9 (Reuters) - Australia’s GrainCorp Ltd on Thursday reported a loss for the first half of the year, as a severe drought across the country’s east coast hit production.

The country’s largest-listed bulk grain handler, which had warned of an earnings hit last month, said underlying net loss after tax for the six months ended March 31 came in at A$48 million ($33.56 million), compared to the A$36.1 million profit it reported last year.

Revenue for the period rose 25.5 percent to A$2.49 billion from A$1.99 billion last year. ($1 = 1.4304 Australian dollars) (Reporting by Rashmi Ashok and Shriya Ramakrishnan in Bengaluru; Editing by Shounak Dasgupta and Anil D’Silva)

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