News: NAM Namoi Cotton Says Severe Drought Conditions Impacting Balance Of FY20

Oct 4 (Reuters) - Namoi Cotton Ltd (NAM) :

• ONGOING SEVERE DROUGHT CONDITIONS AND IMPACT ON COTTON SUPPLY IMPACTING BALANCE OF FY20 AND MORE SIGNIFICANTLY FY21
• REDUCED DEMAND FOR RAW LINT COTTON AND SOFTER COTTON PRICES HAD NEGATIVE IMPACT ON DELIVERY VOLUMES AND PRICING OF COTTON FOR NCA
• SIGNIFICANT INCREASE IN GLOBAL SUPPLY OF COTTON WILL IMPACT FINANCIAL RESULTS FOR FY2020 AND FY2021
• ANTICIPATES NEGATIVE IMPACT ON NAMOI COTTON'S SHARE OF NCA'S OPERATING RESULTS BY BETWEEN $2.5 MILLION-$3.5 MILLION FOR HALF YEAR OF FY20

Source: [ID:http//bit.ly/2Inwa5v]

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