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Company News Summary

Graincorp Provides Chairman Transition and FY2017 Earnings Guidance

24 Feb 2017  |  09:44:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Chairman transition and FY17 earnings guidance

GrainCorp announced Chairman transition arrangements in line with its Board renewal process and also providing earnings guidance for FY2017. It expects to report FY2017 underlying EBITDA in the range of $385m to $425m (FY2016: $256m) and FY2017 underlying NPAT of $130m to $160m (FY2016: $53m). Don Taylor has indicated his intention to retire as Chairman and Director of the Company effective from 1 May 2017. Mr Taylor will be succeeded by experienced Company Director Graham Bradley AM. The company intends to appoint Mr Bradley to the Company Board on 1 March 2017 and he will assume the Chairmanship following Mr Taylor's retirement.

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