Nufarm warns of first-half loss
Continuing low prices for the herbicide, glyphosate, have prompted Nufarm to issue a profit warning ahead of the release if its first-half results for fiscal 2010 at the end of March. The company expects to have recorded a loss of some Aus$40 million (US$36 million at the current rate) in the six months ended January 31st 2010. Some Aus$33 million (US$30 million) of the loss relates to glyphosate trading impacts, says Nufarm managing director Doug Rathbone. The company posted an operating net profit after tax (NPAT) of some Aus$65 million (US$59 million at the current rate) in the first half of fiscal 2009 ( Agrow No 565, p 8).