Incitec Pivot Limited (ASX:IPL) has reported a full year net profit of $247.1 million to the end of September this year, down from $367.1 million in the previous year.
The fertilizer, explosives and chemicals company says an impairment of $109.2 million weighed on the result flowing from property, plant and equipment items.
The full year net profit figure, without the impairments, shows a profit increase of 21 per cent, to $356.3 million.
The company highlighted explosives earnings were up 14 per cent on the previous period and fertiliser earnings grew 9 per cent.
CEO James Fazzino says the result reflected the company’s ability to deliver in the face of challenging markets by executing on strategy.
A final dividend of 7.3 cents has been declared.
