Sept 2 (Reuters) - Australian agricultural chemicals maker Nufarm Ltd (NUF) on Wednesday warned of an up to 31% drop in its full-year underlying earnings due to a writedown of its Europe assets owed to lower earnings outlook and rising costs.
The company flagged an impairment charge of about A$215 million ($158.52 million), after hot, dry weather hurt demand for crop protection, and the coronavirus outbreak weakened demand in ornamental markets during the second-half of the year.
Nufarm expects fiscal 2020 underlying core earnings of between A$290 million and A$300 million, compared with A$420.3 million a year earlier.
($1 = 1.3563 Australian dollars)
News: NUF Australia's Nufarm warns of earnings drop on writedown of European assets
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