Australia's Nufarm eyes best day in over 15 months as HY profit rises

Nufarm

18/05/2023 04:47

(Updates share moves, adds UBS comment and Factset estimates)
    ** Shares of Nufarm Ltd  NUF.AX  jump as much as 15.9% to
A$6.14, marking their biggest intraday pct gain since Feb. 3,
2022
    ** Agricultural chemicals co says HY underlying net profit
after tax rose 7%, beating a Factset consensus estimate  
    ** Expects to deliver modest underlying EBITDA growth in
FY23 on constant currency basis and assuming normal seasonal
conditions
    ** Stock hits highest level since Jan. 13
    ** Stock down ~14% YTD, as of last close

($1 = 1.4743 Australian dollars)

 (Reporting by Harish Sridharan and Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))