Agricultural chemical company Nufarm
(ASX:NUF) has released its 1H17 results, and its revenue rose 15% to $1.36 billion.
This was driven by growth in Nufarm’s regional crop protection businesses around the world – except Europe.
The company says it’s on track for full-year earnings growth – if normal seasonal conditions prevail in its major cropping regions.
Nufarm also reported its underlying EBIT jumped 19% to $85 million, and its underlying NPAT soared 67% to $19.8 million.
In 1H16, the company posted a statutory net loss of $91 million due to significant material items. However, in 1H17, Nufarm’s reported NPAT is looking much rosier at $20 million.
The company has declared an interim dividend of 5cps, which is 25% higher than last year.
This morning, shares in Nufarm are tracking 4.16% higher at $9.76.
