November 20, 2017 / 10:45 PM / 21 days ago

GrainCorp more than doubles annual profit on bumper wheat crop

Nov 21 (Reuters) - GrainCorp Ltd, Australia’s largest listed bulk grain handler, said on Tuesday its annual underlying net profit more than doubled, aided by last season’s bumper wheat output.

The company said underlying net profit came in at A$141.6 million ($106.85 million) for the year to Sept. 30, up from A$52.7 million the previous year and within the range of the company’s forecast of A$130 million to A$160 million.

The board declared a final dividend of 15 Australian cents per share for the period, up from 3.5 Australian cents last year.

$1 = 1.3252 Australian dollars Reporting by Chandini Monnappa in Bengaluru; Editing by Richard Pullin and Chris Reese

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