Australia's Incitec Pivot rises as FY profit beats estimates

Dyno Nobel

13/11/2023 01:05

** Shares of Incitec Pivot  IPL.AX  rise as much as 3.10% to
A$2.990, their highest level since Oct 19
    ** Shares set for best day since Sept 14, if gains hold
    ** Co reports FY NPAT before significant items of A$582 mln
($370.33 mln), down ~43% year-on-year, but 8% ahead of consensus
estimates, according to Citi research 
    ** Incitec declares final dividend of 5 Australian cents per
share
    ** Subject to successful completion of sale of Waggaman
Ammonia facility, intends to return up to A$1.4 bln of cash to
shareholders - IPL
    ** Incitec stock down ~23% this year, as of last close

     ($1 = 1.5716 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))