May 29, 2008

ABB Grain posts 80-percent surge in half-year profits

One of Australia's biggest grain exporters, ABB Grain, has reported an 80-percent jump in half-year profits.

Michael Iwaniw, ABB's managing director, said the rise in profits is due to a significant increase in the volume of grain being handled, and bigger margins on grain and malt.

However, the company's escalating profits have stirred some resentment among other South Australian grain growers who have just experienced the second drought in a row.