Australia's Graincorp slips on weak annual results

Graincorp

14/11/2024 01:08

** Graincorp  GNC.AX  falls as much as 4.5% to A$8.45, its
largest intraday loss since early May
    ** Stock second-biggest loser on the benchmark ASX 200 index
 .AXJO 
    ** Shares hit lowest since Aug. 28
** Agribusiness firm posts annual net profit after tax of A$62
mln ($40.21 mln), a 75.2% drop compared with A$250 mln last year
** Attributes narrowing profit to mixed growing conditions in
Australia and challenging operating environment
    ** Stock up 18.1% YTD, including current session's moves
     
     
    ($1 = 1.5418 Australian dollars)

(Reporting by Nikita Maria Jino in Bengaluru)
((mailto:Nikita.Jino@thomsonreuters.com;))