Incitec Pivot reports strong first half

Company News

Incitec Pivot Limited (ASX:IPL) says it has lifted first half profit by 27 per cent and lifted earnings per share by 24 per cent. 
 
First half profit came in at $146 million, up $31 million on last year. Earnings were up 11 per cent thanks to strong performance at the Phosphate Hill mine and the lower Aussie dollar. 
 
The company has worked hard to stay profitable in challenging market conditions. The explosives side of the business again performing strongly whilst lower fertiliser pricing is being offset by higher revenue, higher production and cheaper petrol prices. 
 
The company does not provide an outlook due to the sensitivity of global fertiliser prices and foreign exchange movements.