Materials Stocks News Incitec Pivot (IPL)

Incitec Pivot (IPL) | ASX IPL Stocks | Materials StocksIncitec Pivot (IPL) is Australia’s largest supplier of fertilisers and is involved in the manufacture, distribution and sale of fertilisers.

The company is roughly divided into three divisions: Dyno Nobel (mining, quarry, construction and geophysical exploration services); Fertilisers; and Southern Cross International (focused on sales to Australian distributors and export sales).

IPL was one of the hot stocks in 2010 amid hopes of increased demand for its fertilizer products due to Asia’s economic growth.

On 9 May, IPL reported a 22% increase in underlying profit from the prior year.  The $178.6 million result came on the back of a 15% growth in revenue.

Core earnings at IPL’s explosives division grew from a year earlier amid a modest recovery in US volumes.

IPL expected full year earnings to be biased towards the second half, whilst it was positive about the outlook for soft commodity prices.

IPL also declared an interim dividend of 3.3 cents per share, up from 1.8 cents a year earlier.

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