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Nufarm cuts profit forecast due to glyphosate

Reduced sales and increased competition for the herbicide, glyphosate, have prompted Nufarm to cut its profit forecast for fiscal 2009. Net profit after tax is expected to fall about 15% short of earlier guidance of Aus$220 million (US$175 million at the current rate) for the year ended July 31st 2009 ( Agrow No 565, pp 8-9). However, given the importance of the last six weeks of the financial year, Nufarm says that it will be unable to assess the final impact on earnings until the end of July.

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