Nufarm forecasts 50% profit growth
Nufarm expects its net operating earnings to have risen by at least 50% in the year ended July 31st 2011. The company forecasts earnings of Aus$88-94 million (US$94.2-100.6 million) in fiscal 2011, compared with Aus$58.6 million (US$62.7 million at the current rate) in the previous year. The forecast excludes the impact of material items and of the Aus$25 million (US$26.8 million) write-down of a disputed receivable. That would reduce earnings by Aus$21 million (US$22.5 million - Agrow No 618, p 2).