GrainCorp’s Revenue and Profits Fall Sharply

Graincorp Limited Class A (AU:GNC) has released an update.

GrainCorp Limited reports a significant downturn in its financial performance for the half-year ended March 2024, with a 25.5% decrease in revenue and a 75.2% plunge in profits after tax. Despite the financial setback, the company maintained its commitment to shareholder returns, declaring both interim and final dividends. The report also noted a marginal decrease in net tangible assets per share and varied interests in joint ventures, with a combined share of losses amounting to $7.7 million.

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