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Nufarm shares drop on earnings warning

Nufarm managing director Greg Hunt has warned of a hit to first-half earnings
Nufarm managing director Greg Hunt has warned of a hit to first-half earnings

Nufarm shares have slipped after the agricultural chemicals supplier warned half-year earnings would suffer from weak November trade and the shutdown of manufacturing facilities outside Melbourne.

Managing director Greg Hunt has told the company’s annual general meeting Nufarm would deliver half-year earnings in the range of $70 million to $80 million, which compares to underlying earnings before interest and tax of $85 million in the prior corresponding period.

Nufarm shares were 27 cents, or 3.1 per cent, lower at $8.51 at 1115 AEDT on Thursday.

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