Today Nufarm announced financial results for the two months ended 30 September 2020 to complete the transition to the new financial year reporting period.

In announcing the results, Nufarm Managing Director and Chief Executive Officer, Greg Hunt, said, “We have continued to make progress against key priorities. Our balance sheet remains strong, we have made further progress in improving net working capital ratios and we are starting to see the benefits of the performance improvement program reflected in our cost base.

“While these two months are traditionally a quiet period for trading, the positive momentum we saw in the second half of last financial year has continued with revenue growth of 23% on the proforma comparative two month period. This growth was driven primarily by stronger demand for our product portfolios in Australia and Europe and momentum has continued in all regions through October, providing us with a good start to the new financial year.”

A further update on trading will be provided at Nufarm’s annual general meeting of shareholders on 18 December 2020.
 
A copy of the financial results and investor presentation is available here.