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Company News Summary

GrainCorp Provides FY2018 Earnings Guidance

15 Feb 2018  |  09:34:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: GrainCorp provides FY18 earnings guidance

GrainCorp provided FY2018 earnings guidance. During FY2018 it has received 5.8mt into its network, compared to total FY2017 receivals of 15.0mt. FY2018 summer crop expectations have also deteriorated in recent weeks due to prolonged hot and dry weather in Qld and northern NSW. The Current sorghum crop estimates for FY2018 are 1.5mt. It expects to report FY2018 underlying EBITDA in the range of $240m to $265m and FY2018 underlying NPAT of $50m to $70m. This includes the ongoing tax benefit from the recent change in the US corporate tax rate, with an $18m tax benefit in FY2018.

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