ASX Top 200 News Nufarm (NUF)

Nufarm NUF ASXNufarm (NUF) produces agricultural fertilisers and chemicals used for crop protection internationally.

The company is also actively involved in the marketing and sale of branded, off-patent crop protection and seeds treatment products.

NUF was one of the shares to sell during the first half of 2010 amid poor results and earnings downgrades.

On 29 March, NUF reported a 1H11 operating net profit of $22.7 million.  This compares to an operating loss of $4.2 million loss a year earlier.

Including one-off costs and write-downs, Nufarm’s net loss came in at $40 million.  No interim dividend was declared.

Excluding glyphosate sales, group revenue rose 15% on-year to $694 million.  This was associated with a healthier gross margin as NUF sought to optimise its sales mix.

NUF was confident that positive climatic conditions in Australia and an improved operating environment will deliver a full year result significantly better than the prior year.

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