Drought pushes Nufarm to $15.6m loss

26 September 2018

SBS News
26 September 2018

Agricultural chemical supplier Nufarm’s full-year profit plummeted $130 million to a $15.6 million loss on the back of drought-driven impairments in Australia.

Nufarm has slumped to a $15.6 million full-year loss on the back of $91.5 million in drought-related impairments, and the cost of acquiring crop protection products from Europe.

The agricultural chemical supplier’s full-year revenue increased 6.3 per cent to $3.31 billion, helped by a big lift in Europe, where it acquired product portfolios from FMC Corporation, Adama and Syngenta.

The company will pay an unfranked dividend of six cents per share, down from eight cents in 2017.

Read article here.