Agrichemicals company Nufarm Ltd (ASX:NUF) has upgraded its first half profit guidance.
At the end of last year the pesticides maker forecast net profit after tax was likely to reach between $10 million to $20 million in the six months to 31 January 2011.
Nufarm now advises it expects to deliver earnings slightly above this guidance when it releases its complete interm results on 28 March 2011.
The company has also announced that its chief financial officer Kevin Martin will step down next week.
General manager Mark Keating has been appointed interim CFO until a new permanent appointment is made.
Yesterday shares in Nufarm slipped 0.39 per cent to close at $5.12.
In the 2010 financial year Nufarm reported a net loss of $22.7 million.
NUF Price at posting:
$5.12 Sentiment: None Disclosure: Held
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