BUZZ-Australia's Graincorp extends gains, among top gainers on ASX 200 on strong FY24 outlook

Reuters05-17

** Shares of Graincorp extend gains to rise as much as 5.3% to A$8.570, seeing their best day since May 12, 2023

** Stock among top gainers on benchmark S&P/ASX 200 index

** GNC set for best week since start of May 2023, if gains hold

** Food processing co declared 1H24 dividend of 24 Australian cents per share on Thursday despite drop in HY net profit after tax (NPAT)

** Co extended gains on strong FY24 forecast, with underlying EBITDA forecast between A$250 mln - A$280 mln ($186.65 mln)

** Stock has risen 11.7% this year, as of last close

($1 = 1.5002 Australian dollars)

(Reporting by Shivangi Lahiri in Bengaluru)

((shivangi.lahiri@thomsonreuters.com))

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