Incitec Pivot net profit falls 78% in H1

摘要

Australia's Incitec Pivot said net profit for the six months through March fell 78% to AUD 31.5 million ($23.2. million). The company said revenues for the H1 2016 period declined to AUD 1.52 billion from AUD 1.59 billion in the same period a year earlier, due partly to lower prices for its products. Incitec reported an AUD 106 million non-cash after tax impairment charge to the asset value of its Gibson Island ammonia and urea site in Australia. Higher gas prices could close the Gibson Island plant if governments, unions and gas suppliers don't help provide savings, it said.