Australia's GrainCorp forecasts lower profit for FY26; shares hit over 4-year low
02/02/2026 24:27
Feb 2 (Reuters) - Australian agribusiness GrainCorp GNC.AX forecast a sharp fall in its fiscal 2026 profit on Monday, pressured by an oversupply-led fall in commodity prices, sending its shares down to a more than four-year low. The company expects underlying net profit after tax between A$20 million ($13.93 million) and A$50 million in 2026, down from A$87 million reported last year. ($1 = 1.4355 Australian dollars) (Reporting by Jasmeen Ara Shaikh in Bengaluru; Editing by Subhranshu Sahu) ((JasmeenAraIslam.Shaikh@thomsonreuters.com;))