May 15, 2012

Incitec Pivot's H1 2012 profits down 13%

A 13% drop in Incitec Pivot's, fertiliser and explosives maker, profits has been posted for the first half of the year.

The company's fertiliser business was responsible for most of the falls.

When compared to the previous corresponding period, the fertiliser business earnings before interest and tax were down 56%.

The company says the strong Australian dollar, and the fact it took longer to fix its Mt Isa acid plant than expected was responsible for the falls.

Incitec Pivot says it expects total fertiliser sales to exceed two million tonnes for the year.