August 3, 2009
GrainCorp revises fiscal year net profit forecast
Logistics and marketing concern GrainCorp Ltd. Monday upgraded its guidance for net profit this fiscal year citing higher-than-expected grain receivals, export sales and volumes through export terminals.
GrainCorp said that it now expects net profit this fiscal year in a range A$53 million to A$63 million, compared with previous guidance of a range A$37 million to A$42 million.
"The prospects for another good winter grain harvest remains, with crops having been established in ideal conditions in most areas but finishing rain across the grain belt is needed," Managing Director Mark Irwin said in a statement.
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