The grains marketer and rural services provider, AWB Ltd. assumes its profit for year 2010 to be up, on the back of improving demand and economic conditions. The company expects its profit to be at $140 million, which is a rise of 51%.

AWB chairman Peter Polson announced to the shareholders that compared to last year's profit at $93 million, next year's profits would be between $115 million and $140 million.

"With Australia's proximity to Asia and rapidly growing Asian demand, there is an increasing range of attractive opportunities for the business", Mr. Polson said.

The company's 2009 overall performance was disappointing as it incurred net loss of $250 million. The company's financial position is improving which is due to cost cuts and an equity rising in the latter part of the financial year.

Sale of AWB's Landmark Financial Services' lending and deposit books to ANZ Banking Group Ltd earlier this month has also helped reduce debt.

AWB's shares went up by two cents to $1.10.