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Nufarm (ASX:NUF) has been forced to slash its full-year operating profit by $21 million.
It follows a legal dispute with a disgruntled supplier. Nufarm’s been unable to reach an agreement with the supplier about claims in relation to sales of glyphosate...one of the main ingredients in Nufarm’s weedkillers.
Nufarm recorded $58 million in receivables and told investors it was confident about receiving the payments. Analysts say the markets will look beyond the news believing it to be a one-off cost.
For the six months to January 31 2011, Nufarm reported a net profit of $4.38 million.
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Last
$2.39 |
Change
0.020(0.84%) |
Mkt cap ! $915.4M | |||
| Open | High | Low | Value | Volume |
| $2.36 | $2.40 | $2.35 | $1.988M | 838.4K |
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| No. | Vol. | Price($) |
|---|---|---|
| 2 | 6288 | $2.38 |
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| Price($) | Vol. | No. |
|---|---|---|
| $2.39 | 19346 | 3 |
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| NUF (ASX) Chart |