Australia's Graincorp extends gains, among top gainers on ASX 200 on strong FY24 outlook

Graincorp

17/05/2024 06:27

** Shares of Graincorp  GNC.AX  extend gains to rise as much
as 5.3% to A$8.570, seeing their best day since May 12, 2023
    ** Stock among top gainers on benchmark S&P/ASX 200 index
 .AXJO  
    ** GNC set for best week since start of May 2023, if gains
hold
    ** Food processing co declared 1H24 dividend of 24
Australian cents per share on Thursday despite drop in HY net
profit after tax (NPAT)
    ** Co extended gains on strong FY24 forecast, with
underlying EBITDA forecast between A$250 mln - A$280 mln
($186.65 mln)
    ** Stock has risen 11.7% this year, as of last close
    
($1 = 1.5002 Australian dollars)

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((shivangi.lahiri@thomsonreuters.com))