Nufarm (ASX: NUF) eyes moderate EBIT growth in FY23 amid ‘good’ demand for its products

Mon 28 Aug 23, 11:45 AM | Team Kalkine

Image source: © Lovelyday12 | Megapixl.com

Highlights

Nufarm is an ASX-listed seed technology and crop protection company

In 1HFY23, the company recorded a 6.77% surge in underlying NPAT and a 2.70% growth in underlying EBIT

Allan Gray Australia Pty Ltd has the highest stake in NUF with the shareholding of nearly 14.05%

Nufarm Limited (ASX: NUF) is an international seed technology and crop protection company primarily operating in the off-patent market. The company’s primary activities are seed technologies business and manufacturing and selling crop protection products.

The ASX-listed agri-chemical company registered a 6.77% increase in underlying NPAT to AUD 142 million in the first half of the financial year 2023 (1HFY23). The NPAT was driven by the rise in demand for the NUF’s core seed portfolio, including sunflower, canola and sorghum seeds.

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