Australia's Graincorp hikes annual outlook on strong demand, shares up over 4%
11/05/2023 01:12
May 11 (Reuters) - Graincorp Ltd GNC.AX on Thursday
hiked its annual earnings guidance due to strong demand for
Australian grain and oilseeds and upbeat performance in its
Oilseeds business, sending the agribusiness firm's shares 4.5%
higher in early trade.
The company now expects fiscal 2023 net profit after tax of
between A$220 million ($149.23 million) and A$260 million, up
from prior expectation of between A$180 million and A$220
million.
($1 = 1.4743 Australian dollars)
(Reporting by Sameer Manekar in Bengaluru; editing by Uttaresh
Venkateshwaran)
((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))