Graincorp top gainer on ASX 200 after strong FY results
16/11/2023 24:33
** Shares of agribusiness co Graincorp GNC.AX rise as much
as 8.1% to A$8.020, their highest since Aug. 24
** Stock last up 4.2%, set for best day since May 12 if
gains hold
** Co posts FY EBITDA of A$565 mln ($367.87 mln) vs
consensus est A$543 mln, according to RBC
** Announces on-market share buyback of A$50 mln
** UBS analysts say it was a strong result, underpinned by a
third consecutive bumper crop
** GNC top gainer on ASX 200 benchmark index
** As of last close, stock up 1.3% this year
($1 = 1.5359 Australian dollars)
(Reporting by Himanshi Akhand in Bengaluru)
((Himanshi.Akhand@thomsonreuters.com;))