Incitec Pivot Limited (ASX:IPL) has reported a net profit of $143.5 million for the six months to March this year.
The figure is 13 per cent down from the same time last year.
The explosives and fertiliser manufacturer says its fertiliser business had performed poorly.
Incitec’s chief says its strategy moving forward is to invest in its explosives businesses Dyno Nobel Americas and Dyno Nobel Asia Pacific.
Its explosives businesses have seen a 21 per cent increase in earnings.
Incitec has declared an interim dividend of 3.3 cents per share, 50 per cent franked.
