The company will provide earnings guidance for the 2023 financial year at its annual meeting on February 16.

Spurway pointed to forecasts from government research bureau ABARES that crop production on the east coast would reach 27 million tonnes, the highest forecast on record. “Obviously the flooding has impacted that,” he said.

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La Nina has delayed harvests for many grain growers, impacting yield and quality. Some will have to sell a higher proportion of their wheat as feed grade (which goes into food for livestock) rather than milling grade (for human consumption).

“But our focus and job at the moment is working across our network and with growers to overcome logistical challenges of flooded roads and delayed harvests, to ensure we’re there to receive harvests when it does get under way,” he said.