Australia's Incitec Pivot slips on fertiliser business sales deferral to second half

Dyno Nobel

28/03/2025 01:26

** Shares of Incitec Pivot IPL.AX slip 2.2% to A$2.62

** Co says persistent dry conditions across South Australia, Victoria and southern NSW as well as cyclonic conditions in other parts causing farmers to delay fertiliser dispatches

** As a result, IPL says fertiliser business has sales deferred to the second half of fiscal 2025 from the first half

** We are not expecting sales to materially recover into H2 at this stage — RBC Capital Markets

** Brokerage adds it is inclined to take a more cautious view towards co's fertiliser business

** Stock down as much as 5.6% earlier in the day, hitting its lowest level since January 30

** Stock down 10.4% YTD, including day's moves

(Reporting by Shivangi Lahiri in Bengaluru)

((shivangi.lahiri@thomsonreuters.com))