Melbourne — Incitec Pivot Ltd. reported a 37 percent drop in fertilizer segment earnings before income taxes (EBIT), to A$169.7 million on revenues of $1.46 billion for the year ending Sept. 30, 2013, versus 2012’s $270.9 million and $1.73 billion, respectively. IPL cited lower prices, a higher Australian dollar, and Phosphate Hill outages. Chemical EBIT was up 3 percent, to $327.7 million on revenues of $1.96 billion versus the prior year’s $318.8 million and $1.77 billion, respectively. However, Dyno Nobel Americas EBIT was off 9 percent due to lower commodity prices impacting profits at the St. Helens plant. The unit also suffered from lower earnings from its coal segment. Company-wide, IPL reported a 27 percent drop in net profit after tax, to $372 million on sales of $3.4 billion, versus 2012’s $510.7 million and $3.5 billion, respectively.
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