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GrainCorp profits dry up
30 May 2008
GrainCorp has reported a loss of $6.5 million for the first half of the current financial year and has forecast a full-year loss of $20 million. After two years of drought and a lack of grain the company has commenced a restructuring program to diversify its income streams. Assuming a good harvest in 2008-09, managing director Mark Irwin said that a before tax profit of $140 million should be achieved next year. Graincorp is hoping to grab up to a quarter of grain exports from the east coast in a deregulated market.
Sydney Morning Herald, 30/5/2008
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