Incitec Pivot Limited
(ASX:IPL) says it may take a $23.5 million hit to its second half profit following production problems at its Phosphate Hill fertiliser plant.
Output of ammonium phosphates at the plant is expected to fall to 400,000 tonnes in the second half, restricting the year’s production to 763,000 tonnes.
CEO James Fazzino says a detailed study revealed the cause of the unplanned outage at Mt Isa was the 2010 turnaround for its Phosphate Hill and Mt Isa operations.
He says a review of the group's global manufacturing operations is now being finalised with the outcome to be disclosed soon.
Incitec Pivot delivered a net profit of $110.3 million in the first half of fiscal 2013.
