May 11 Australia's largest listed bulk grain
handler GrainCorp Ltd said on Thursday its half-year
underlying profit more than tripled as record national wheat
production underpinned revenue growth.
GrainCorp said its underlying net profit for the six months
ended March 31 came in A$100.1 million ($73.6 million), up from
A$32.2 million last year.
GrainCorp was boosted by Australia's record wheat output
during the 2016/17 season, supporting the company's storage and
handling segment as well as its trading arm.
Australian wheat production totalled 35.13 million tonnes
last year, surpassing the previous record set in the 2011/12
($1 = 1.3600 Australian dollars)
(Reporting By Rushil Dutta; Editing by Richard Pullin)