Edition:
India

Incitec Pivot Updates On Impact Of Weather Condition On H1 Earnings


Tuesday, 2 Apr 2019 

April 2 (Reuters) - Incitec Pivot Ltd ::DISTRIBUTION SALES IN FIRST HALF OF FY19 ARE CURRENTLY DOWN APPROXIMATELY 200,000 TONNES VERSUS PRIOR CORRESPONDING PERIOD.IPL HAS COMPLETED A REVIEW OF ITS SINGLE SUPER PHOSPHATES (SSP) MANUFACTURING OPERATIONS IN VICTORIA.IMPACT OF THE LOWER VOLUMES ON FIRST HALF FY19 EBIT IS EXPECTED TO BE APPROXIMATELY A$20M COMPARED TO PCP.PORTLAND SSP MANUFACTURING FACILITY WILL CLOSE IN MAY 2019 AND OPERATIONS WILL BE CONSOLIDATED TO GEELONG SSP MANUFACTURING FACILITY..PORTLAND PRIMARY DISTRIBUTION CENTRE WILL CONTINUE TO OPERATE TO SERVE CUSTOMERS AS NORMAL..TOTAL COST ASSOCIATED WITH CLOSURE AND SUBSEQUENT CONSOLIDATION OF OPERATIONS TO GEELONG IS EXPECTED TO BE APPROXIMATELY A$13M.FINANCIAL IMPACT OF QUEENSLAND RAIL OUTAGE ON FIRST HALF EBIT IS EXPECTED TO BE ABOUT A$60M.TOTAL IMPACT OF QUEENSLAND RAIL OUTAGE IMPACT FOR 2019 FY NOW ANTICIPATED TO BE AROUND LOWER END (A$100M) OF RANGE PREVIOUSLY ANNOUNCED.PORTLAND SSP TO BE CONSOLIDATED TO GEELONG SSP FACILITY; SEES SYNERGIES FROM COMBINED OPERATION OF A$3M EBIT PER ANNUM FROM FY20.ESTIMATED EBIT FOR LOUISIANA AMMONIA PLANT FOR FIRST HALF OF FY19 IS ABOUT A$14M COMPARED TO A$62M IN PCP.