August 1, 2019 / 10:57 PM / 3 months ago

Australia's GrainCorp expects to post loss for year amid tough conditions

Aug 2 (Reuters) - GrainCorp Ltd on Friday said it now expects to report an underlying net loss after tax for the year, citing ongoing disruption of international grain trade flows and Australian wheat markets.

The agribusiness company says that it now expects to report underlying core earnings for the 2019 full year in the range of A$65 million ($44.21 million) to A$85 million and an underlying net loss after tax in the range of A$70 million to A$90 million. ($1 = 1.4704 Australian dollars) (Reporting by Rashmi Ashok in Bengaluru)

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