Australia's Dyno Nobel rises on divestment, share buyback, HY profit rise

Dyno Nobel

12/05/2025 05:29

Updates share moves throughout, adds Citi comment in bullets 7,8

** Australia-based mining services provider Dyno Nobel DNL.AX rises as much as 3.11% to A$2.650, the highest since March 28

** Ridley RIC.AX, an agricultural products supplier, will buy DNL's fertiliser distribution business for A$300 mln ($192.7 mln)

** DNL to restart its A$900 million on-market share buyback program on May 13

** Posts 105% y/y jump in HY net profit attributable at A$7.4 million

** Stock extends winning streak to five consecutive sessions

 ** Ridley shares halted pending capital raising announcement

** Citi analysts note market optimism around the distribution business sale offsets DNL's underwhelming adjusted earnings

 ** "With a myriad of moving parts comprising site closures, separation of Fertiliser business and impairment while juggling weather impacts, DNL has delivered what we view to be a resilient result" - Citi

** YTD, DNL falls 10.2%; RIC down 13.7%

($1 = A$1.5569)

(Reporting by Nichiket  Sunil in Bengaluru)

((Nichiket.Sunil@thomsonreuters.com;))