Big Dry Hits Incitec Pivot

Nufarm, the crop protection group, warned earlier this week that the big dry across much of Australia’s Eastern States would impact 2017-18 earnings (helped by poor weather in the US and Europe). Yesterday, explosives maker, Incitec Pivot cited the dry weather as one of the reasons for its weak first half performance.

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IPL-DXL To Wed

With its early and surprisingly bullish market update out of the way last week, fertiliser maker Incitec Pivot turned to unfinished business yesterday, revealing plans to buy explosives maker Dyno Nobel for $3.3 billion in a cash and shares offer that will be done via a scheme of arrangement.

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IPL’s Boom

Yes, we know the drought has had a dramatic impact on rural and regional Australia’s farmers, towns, cities and companies, but a combination of surging world prices and a possibly better season this year has seen the country’s biggest fertilizer maker, Incitec Pivot forecast a more than doubling in pre tax earnings for the year to September 30.

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