Sunday , February 28 2021

The profit of Incitec Pivot FY will drop by 35% to $ 208 million

The annual profit of Incitec Pivot has fallen by 34.8 percent to $ 207.9 million as the high first half year value has dropped to the explosive business business.

Profit over the 12 months to September 30 fell from $ 318.7 million a year ago, with $ 139.5 million worth of non-cash goodwill compared to Dyno Nobel's Asia Pacific Industrial Explosive and Explosive Enterprise.

In turn, profit excluding one-off items increased by 9.0 percent to US $ 347.4 million, and earnings per share for the same share increased by 10.6 percent.

The Chief Executive Officer and CEO Jane Johns said performance improvements have improved throughout the company portfolio, including explosives in the US and Australia.

"Our fertilizer business in Australia also had a strong result, given the high turnover of the Phosphate Mountain and the drought conditions that have occurred in most of New Zealand and Queensland," said Jones.

The company said that the drought effect that reduced nitrogen demand for winter crops was somewhat reduced by higher world urea prices, higher sales in other regions, and higher distribution profits based on improved supply chain management.

Incitec Pivot, partly paying the franked final dividend of 6.2 cents, did not provide a profit for FY19 year but indicated that dry conditions in NSW and Queensland could affect the availability of irrigation water on the mainstream markets of summer crops.


* Net profit decreased by 34.8% to USD 207.9 million

* Revenues increased by 11.0% to $ 3.856 billion

* Final dividends 6.2 cents (20 percent franked) against 4.9 cents (unlimited) PCI

Originally published as a profit of Incitec Pivot FY is 35% to $ 208 million

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