May 10, 2018 / 11:10 PM / 10 days ago

Dry weather hammers GrainCorp H1 profit

May 11 (Reuters) - Australia’s largest listed bulk grain handler GrainCorp Ltd said on Friday its first-half underlying profit more than halved, as severe dry weather crippled wheat harvests.

Underlying net profit for the six months ended March 31 came in at A$36.1 million ($27.2 million), down from A$100.1 million a year ago, the company said in a statement.

GrainCorp declared an interim dividend of 8 Australian cents per share, down from 15 cents last year. ($1 = 1.3278 Australian dollars) (Reporting by Chris Thomas in Bengaluru; editing by Richard Pullin)

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