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Nufarm announces $456 million net loss

Manufacturing News

ASX-listed agricultural chemical business Nufarm has announced a full-year net loss of $456 million, down from a $38.3 million profit a year ago.

The results included $215 million in impairments from its European assets, and the sale of its South American operations to Sumitomo Chemical for $1.2 billion, completed in April.

“The agricultural markets in which we operate across the globe have endured mixed seasonal conditions, industry-related supply issues and of course the tragedy and disruption of COVID-19,” said managing director Greg Hunt, who said that no more asset sales were being planned.

Picture: Nufarm

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