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Nufarm Slashes Full-year Profit Forecast

7:06 AM MDT | July 14, 2010 | Natasha Alperowicz

Nufarm (Melbourne) has halved its full-year proft forecast blaming a late, cold winter in North America and Europe for hitting sales. The company now expects to generate a net operating profit, excluding non-operating items, for the full year ending July 31, of about  A$55 million to A$65 million ($48.2 million to $57 million), down from an earlier forecast for an operating profit of between A$110 million to A$130 million. The company says that unfavorable climatic conditions, particularly in North America and Europe, have contributed to poor demand for crop...

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