Australia's Graincorp raises profit forecast on higher demand
Forecasted profits have been lifted by A$60 million
8 April 2022
1 minute read
By: 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.
