Nufarm drop in net profit due to lower earnings & higher net financing

Company News

by Anna Napoli

Nufarm (ASX:NUF) has reported its underlying net profit after tax (NPAT) fell 28 per cent on the previous year to $98 million for the 2018 full year.

Its revenue strengthened over the 2018 year, and lifted 6 per cent on FY17 to over $3.3 billion.

Its underlying earnings (EBITDA) fell 1 per cent on the prior year, to $386 million.

The company declared a full year dividend of 11 cents per share down from 13 cents last year.

The agricultural chemical company says the decline in net profit was driven by lower earnings and higher net financing expense.

Meantime, underlying earnings were only down by 1 per cent with the Australian drought impact largely offset by the European acquisition contribution.

Shares in Nufarm (ASX:NUF) are on a trading halt while the company completes an equity raising, they last traded at $6.70
 

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.