Nufarm (ASX: NUF) banks on high-margin, innovative products to achieve FY26 revenue target.

Mon 31 Jul 23, 10:25 AM | Team Kalkine

Image source: © Lovelyday12 | Megapixl.com

Highlights

Nufarm Limited (ASX: NUF) develops and manufactures beyond YieldTM seed technologies and crop protection solutions. The seed technologies business is spread across 30 countries, and the crop protection business is present in Asia Pacific, North America, Middle East & Africa and Europe.

During the first half of 2023 (1HFY23), Nufarm achieved significant strategic milestones such as product launches, new agreements and growth in geographical footprint. In 1HFY23, the revenue fell by 9.7% over the previous corresponding period (pcp) to AUD 1,954.5 million, driven by a fall in demand as prices increased due to supply uncertainty. While the underlying net profit after tax increased by nearly 7% during the reported period due to favourable agricultural commodity prices.

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