Australia’s biggest listed bulk grain handler, GrainCorp Ltd., on Thursday reported a larger-than-expected half-yearly loss, as severe drought withers crops in one of the world’s top exporters of commodities such as wheat.
According to a report at Reuters, the firm also cut its dividend as it grapples with the fallout from the driest conditions in a century, with its shares falling to their lowest level in five months.
The firm says it remains “actively engaged” with interested buyers.
