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Australia's Graincorp lifts annual profit forecast for second time

Aug 10 (Reuters) - Australia's Graincorp on Wednesday raised its annual profit forecast for the second time, helped by the robust performances of its agribusiness and processing businesses and expectations of above average East Coast Australian (ECA) crop.

The company said it now expects fiscal 2022 underlying net profit after tax of A$365 million to A$400 million ($254.1 million to $278.5 million), compared with its earlier forecast of A$310 million to A$370 million. ($1 = 1.4364 Australian dollars) (Reporting by Shashwat Awasthi; Editing by Krishna Chandra Eluri)