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BRIEF-Incitec Pivot FY net profit attributable down 67.9 pct to A$128.1 mln

Published 08/11/2016, 08:46 am
Updated 08/11/2016, 08:50 am
© Reuters.  BRIEF-Incitec Pivot FY net profit attributable down 67.9 pct to A$128.1 mln
IPL
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Nov 8 (Reuters) - Incitec Pivot Ltd IPL.AX

* FY net profit for financial year attributable to members of incitec pivot limited down 67.9% to A$128.1 million

* FY revenues from ordinary activities down 7.9% to A$3.35 billion

* Final dividend 4.60 cents

* Markets in which IPL operates are expected to remain challenging in 2017

* "Industrial chemicals earnings are expected to grow as waggaman, louisiana ramps up through 2017"

* "Structural changes in US coal markets and cyclical oversupply of ammonium nitrate in asia pacific and americas are expected to continue in 2017"

* "The cyclical reduction in global fertiliser prices may continue into 2017"

* "Phosphate hill gas contracts secured during the year are expected to reduce IPL's gas costs from calendar year 2017 to 2028"

* For Bex ofi: to deliver $80m of sustainable operating efficiencies and $20m of sustainable capital expenditure savings by 2017

* In 2017 corporate costs are expected to remain between $22m and $24m.

* In 2017 net borrowing expense is expected to increase to approximately $128.9m

* In 2017 full year effective tax rate is expected to continue to be approximately 22 to 24 percent

* "Board also determined to maintain the dividend reinvestment plan (DRP) with respect to the 2016 financial year"

* "Industrial chemicals volumes in 2017 are expected to be broadly consistent with those of 2016"

* "Explosives sector is expected to remain challenged through 2017" Source text for Eikon: ID:nASX64CHY3 Further company coverage: IPL.AX

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