Nufarm Achieves Solid First Half Profit, Expects Strong Second Half

Nufarm (ASX: NFN) reported strong financial results for the first half of FY24, with revenue reaching AU$1.8 billion and a statutory net profit after tax of AU$49 million. Despite challenging conditions, the company declared an unfranked interim dividend of 4 cents per share and projected an FY24 EBITDA between AU$350 million and AU$390 million. Significant progress was made in key strategic growth milestones, and the company is on track to meet its FY26 revenue aspirations.

CEO Greg Hunt highlighted the robust momentum and resilience of Nufarm’s Crop Protection and Seed Technologies segments. The company reduced inventory by 20% year-on-year and expects continued growth driven by global food demand and innovative product platforms. This strong start sets a positive outlook for the remainder of the fiscal year.

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