Graincorp expects 'stronger year' in 2016-17

The chief executive of agricultural giant GrainCorp Mark Palmquist has moved to temper investor expectations that a bumper crop will deliver easy profits this year after the company's financial performance for 2015-16 came in slightly ahead of expectations.

The $2 billion company reported a 3.7 per cent fall in statutory net profit to $30.9 million in the year ended September 30, which was dragged down by $21.8 million in one-off costs.