GrainCorp full-year profit dips

Grain handler warns of challenging conditions for growers, still working on ADM takeover bid, posts lift in revenue.

GrainCorp (GNC) has warned of challenging conditions for many growers but says it is on track to deliver the previously announced $110 million in incremental underlying uplift by the end of fiscal 2016, as it posted a dip in full-year profit.

GrainCorp's net full-year profit attributable to members was $140.9 million, a 31.2 per cent drop compared with $204.9 million in the prior year.

The grain handler said its profit was affected by significant items totalling $33.6 million.

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