Nufarm Limited (ASX:NUF) has reported an annual net profit drop on the back of one-off restructuring costs.
The agricultural chemicals supplier saw its net profit sink 53 per cent to $37.7 million in the 2014 financial year.
The result was impacted by $48.7 million of charges associated with the restructure of Nufarm’s Australia and New Zealand operations.
On an underlying basis profit lifted 4 per cent to $86.4 million, aided by growth from its South American and seeds businesses and lower corporate costs.
Looking ahead Nufarm believes it is strongly positioned to generate growth at an underlying EBIT level in 2015.
A final dividend of 5 cents per share has been declared.
