SYDNEY May 15 Australia's largest listed
agribusiness GrainCorp posted a 43 percent fall in
first-half net profit on Thursday as poor seasonal conditions
across the country's east coast curbed production.
GrainCorp said its net profit for the six months to March 31
was A$50 million ($46.9 million), down from A$88.2 million a
year ago. Most analysts do not forecast half year profits, but
Thomson Reuters I/B/E/S consensus forecast pegs the company's
full-year net profit at a four-year low of A$93 million, down
from A$174.5 million a year ago.
The bulk grain handler attributed the fall in first-half
earnings to a smaller grain harvest from Australia's east coast,
where it has most of its business.
($1 = 1.0671 Australian Dollars)
(Reporting by Colin Packham, Editing by Jane Wardell and