March 23 (Reuters) - Nufarm Ltd NUF.AX :
* Says HY underlying earnings before interest and tax (EBIT), for the half year, of $71.2 million, up by 12% over the prior half year
* HY group revenues $1.19 billion, up by 0.3%
* Accounting estimate change will result in approximately $7 million of higher amortisation costs in financial year 2016
* Directors declared an unfranked interim dividend of 4 cents per share
* Exchange loss resulting from the devaluation exceeds the gross margin gains at the half year
* Second half is expected see further reductions in the average net working capital to sales
* Brazilian market will continue to be tough for second half of last year
* Operating cash flow may not be as strong as in the prior year
* Company expects to generate growth in the US
* Business is expected to generate a better second half result than in 2015
* Nufarm has incurred a further $5 million in foreign exchange losses in the February month
* On track to deliver at least $20 million in benefits from the performance improvement program in the 2016
* Underlying net profit after tax will be impacted by higher net financing expenses in the second half
* Source text for Eikon