Sharechat Logo

Nufarm signal interim above guidance

Thursday 24th March 2011

Text too small?

Agricultural chemicals firm Nufarm Ltd says its operating profit in the six months to January 31, 2011 will be slightly above its forecast of A$10 million (NZ$13.6 million) to A$20 million.

The statement came ahead of the company's interim result on March 28.

Nufarm was a subsidiary of New Zealand-based Fernz Corp from the mid 1980s until early 2000. In 2000, Fernz migrated to Australia and changed its name to Nufarm Ltd.

Nufarm, which is one-fifth owned by Japan's Sumitomo Chemical, has been under funding pressure but completed a financing package last year which gives it funding for a year. It faces class actions from shareholders alleging poor disclosure.

Nufarm said Kevin Martin, its chief financial officer since 1994, would step down this month and general manager for finance Mark Keating would take on the role in the interim.

"Mr Martin indicated that work undertaken over the past 12 months to stabilise the financial position of the company; to strengthen the finance function and appoint a new group treasurer; and to help deliver a significant improvement in the operating performance of the business provides an appropriate opportunity for him to step away from the business," the company said.

 

NZPA



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Delegat Group Limited (NZX: DGL) $333 million syndicated bank facilities
7th December 2021 Morning Report
Sky Network Television Limited (NZX: SKY) Transformation accelerates - Sky raises FY22 guidance
PGG Wrightson Limited (NZX: PGW) FY22 Operating EBITDA forecast to better last year
Vulcan Steel Limited (NZX: VSL) Trading Update & Earnings Upgrade
6th December 2021 Morning Report
Synlait Milk Limited (NZX: SML) Partnership to enhance soil health; test regen ag practices
Property for Industry Limited (NZX: PFI) Strong Valuation Outcome, Penrose Acquisition
3rd December 2021 Morning Report
Fonterra Shareholders Fund (NZX: FSF) Fonterra provides Milk Price, earnings and Q1 update