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GrainCorp Reports Larger-than-Expected Losses

Firm remains "actively engaged" with interested buyers

Large Logo Graincorp

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.

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