Nufarm Ltd (ASX:NUF), the agricultural chemical company, has reported that its full-year profit was hit by restructuring costs, and the higher cost of doing business in Latin America.
The company says its reported net profit after tax fell 36% to $27.5 million – due to one-off restructuring costs.
As for its Group revenue, that rose by 2% to $2.79 billion, and its underlying EBIT increased 21% to $286.7 million.
The company declared an unfranked final dividend of 7 cents per share. This brings its full year dividend to 11 cents per share, which is a 1% increase over the previous year.
Despite the fall in profit (and expectations of commodity prices remaining low), Nufarm is expecting earnings growth this financial year due to cost savings, margin expansion and revenue growth.
