Incitec Pivot Limited
(ASX:IPL)has delivered a net profit of $372 million in fiscal 2013, significantly less than last year’s result due to a high Australian dollar and low global fertiliser prices.
IPL Managing Director James Fazzino says the result reflects a year when the company continues to drive the medium-term growth strategy while managing challenges impacting profitability.
Mr Fazzino says the company delivered strong operating cash flows in the face of a decline in demand for explosives sold in to the resources industry.
He says the company would benefit from increasing production at its Moranbah ammonium nitrate plant in Queensland’s Bowen Basin and the construction of a world scale ammonia plant in Louisiana in the US.
