Nufarm tops gains on ASX 200 on better-than-expected outlook

Nufarm

15/11/2023 24:40

** Shares of crop protection and seed technology co Nufarm
 NUF.AX  rise as much as 9.9% to A$4.890 - their highest since
Sept. 18
    ** Stock set for best day since May 18, if gains hold
    ** Co posts FY statutory net profit after tax of A$111 mln
($72.05 mln), up 3%
    ** Posts FY underlying EBITDA of A$438 mln, better than
Visible Alpha consensus est of A$435 mln
    ** Co expects trading to remain challenging in H1 and to
return to growth in H2 of fiscal 2024
    ** Solid result accompanied by better-than-expected outlook
should be well-received by the market - Citi
    ** NUF top gainer on ASX 200 benchmark index
    ** As of last close, stock down 27.4% this year

($1 = 1.5406 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))