News: NUF Nufarm Posts FY Net Profit Attributable Of $98.4 Mln

Sept 26 (Reuters) - Nufarm Ltd (NUF) :

• FY NET PROFIT ATTRIBUTABLE $98.4 MILLION VERSUS $135.8 MILLION
• DECLARES FINAL DIVIDEND OF 6 CENTS PER SHARE
• FY GROUP REVENUES INCREASED BY 6% TO $3.31 BILLION
• UNDERLYING EBITDA IS EXPECTED TO BE IN THE $500 MILLION TO $530 MILLION RANGE FOR THE 2019 FINANCIAL YEAR
• AUSTRALIA DROUGHT & LATE SEASON IN EUROPE IMPACT CAPITAL, WITH FY AVERAGE NET WORKING CAPITAL TO SALES INCREASING TO 40.3% VERSUS 36.8% YOY
• FIRST HALF UNDERLYING EBITDA IS EXPECTED TO BE SIMILAR TO THAT GENERATED IN THE FIRST HALF OF FY18
• UNDERLYING EBITDA IS EXPECTED TO BE IN THE $500 MILLION TO $530 MILLION RANGE FOR THE 2019 FINANCIAL YEAR
• U.S - CHINA TARIFFS, UK'S POTENTIAL EXIT FROM EU COULD ADVERSELY AFFECT NUFARM’S OPERATIONS AND EARNINGS, AND IMPACT OF NUFARM’S SHARE PRICE
• 2019 FINANCIAL PERIOD WILL ALSO BE IMPACTED DUE TO HIGH AMOUNTS OF INVENTORY IN THE CHANNEL DUE TO DROUGHT CONDITIONS IN AUSTRALIA
• THERE WILL BE A WRITE-OFF OF THE AUSTRALIAN CARRIED FORWARD TAX LOSSES OF ABOUT $20.9 MLN