News: NUF Nufarm Posts FY Revenue From Ordinary Activities Of $3.76 Bln

Sept 30 (Reuters) - Nufarm Ltd (NUF) :

• FY REVENUE FROM ORDINARY ACTIVITIES $3.76 BILLION VERSUS $3.31 BILLION
• DIVIDEND SUSPENDED FOR FY19
• NUFARM - UNDERLYING NET PROFIT AFTER TAX DOWN DUE TO IMPACT OF A FULL YEAR OF DEPRECIATION AND AMORTISATION RELATING TO ACQUIRED EUROPEAN PORTFOLIOS
• FY NET PROFIT ATTRIBUTABLE TO MEMBERS BEFORE MATERIAL ITEMS $89.1 MILLION VERSUS $98.4 MILLION
• ANNOUNCES ITS INTENTION TO DIVEST CROP PROTECTION AND SEED TREATMENT ASSETS IN SOUTH AMERICA FOR CASH PROCEEDS OF $1,188 MILLION
• DIVESTMENT FOR CASH PROCEEDS OF $1,188 MILLION AND CUSTOMARY NET WORKING CAPITAL ADJUSTMENTS ON COMPLETION
• NUFARM WILL CONTINUE TO OPERATE THESE BUSINESSES UNTIL COMPLETION OF TRANSACTION
• NUFARM - RESOLUTION OF SUPPLY ISSUES THAT IMPACTED PRODUCT AVAILABILITY IN EUROPE IN 2019 IS EXPECTED TO CONTRIBUTE POSITIVELY TO EARNINGS FOR 2020
• PERFORMANCE IMPROVEMENT PROGRAM IN AUSTRALIA FORECAST TO DELIVER EBITDA OF BETWEEN $10 MILLION TO $15 MILLION IN 2020
• FOR 2020, CAPITAL EXPENDITURE IS FORECAST TO BE APPROXIMATELY $150 MILLION
• NUFARM- FORECAST NET INTEREST EXPENSE OF $105 MILLION-$110 MILLION IN 2020 INCLUDES ESTIMATED $30 MILLION OF INTEREST COSTS RELATING TO SOUTH AMERICAN BUSINESSES

Source text http//reut.rs/2mcAPQ2

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