SYDNEY, May 11 (Reuters) - Australia's largest listed bulk grain handler GrainCorp Ltd GNC.AX on Wednesday reported a half-year profit of A$20.4 million ($15.0 million), down 33 percent from a year ago after it took a hit from restructuring costs.
Underlying net profit came in at A$32 million, down from A$35 million a year earlier, it said.
"It has been a more challenging half for GrainCorp Oils, which has experienced lower crush margins due to high European demand for canola seed off a smaller crop resulting in tighter supply and higher procurement costs," said Mark Palmquist, managing director and CEO, GrainCorp.
GrainCorp said it took $11.8 million in significant items, mainly from restructuring costs in its oils division.
($1 = 1.3563 Australian dollars)