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GrainCorp Announces Result for Half Year Ended 31 March 2022

11 May 2022  |  08:40:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: GrainCorp delivers record half year result

GrainCorp announced its results for the half-year ended 31 March 2022 (HY 2022) and confirms its recent FY 2022 earnings guidance. The balance sheet is in a strong position with a core cash balance of $129m at 31 March 2022 (HY 2021: $90m core debt). Net debt on 31 March 2022 was $2.0bn (HY 2021: $1.4bn), reflecting increased grain volumes at higher values. EBITDA was up 192% to $70m, due to increased oilseed crush margins and ongoing efficiency improvements. The Company's Board of Directors has declared a total interim dividend of 24cps, comprising an interim ordinary dividend of 12cps, fully franked, for the HY 2022 period (HY 2021 interim dividend 8cps) and an interim special dividend of 12cps, fully franked, reflecting the outstanding HY 2022 financial performance.

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