Australia's Graincorp raises profit forecast on higher demand

Forecasted profits have been lifted by A$60 million
calendar icon 8 April 2022
clock icon 1 minute read

Australia's Graincorp on Friday raised its profit forecast for fiscal 2022, as it benefits from a combination of a good crop season, higher global demand for Australian grains and oilseeds, and higher supply chain margins, reported Reuters.

The agribusiness firm expects underlying net profit after tax between A$310 million ($231.82 million) and A$370 million, up from its previous outlook of A$235 million to A$280 million.

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