Two Stocks That Slipped On ASX Today- NUF And CSR

  • May 10, 2019 04:32 PM AEST
  • Team Kalkine
Two Stocks That Slipped On ASX Today- NUF And CSR

Nufarm Limited

Nufarm Limited (ASX: NUF), headquartered in Laverton North, Australia, is engaged in the manufacturing and selling of crop protection products like insecticides, fungicides, and herbicides. In addition, it also offers seeds and seed treatment products and has a croplands equipment business too. The company’s market capitalisation stands around AUD 1.84 billion with ~ 379.64 million outstanding shares. On 10th May 2019, the stock of the company last traded at A$4.610 (as on 10 May 2019), down by 4.948% from its previous close.

In April 2019, Schroder Investment Management Australia Limited purchased around 19,280,932 ordinary shares (5.08% interest) of Nufarm. While during March 2019, Sumitomo Mitsui Trust Holdings, Inc, Macquarie Group Limited (ASX: MQG) and H.E.S.T Australia Limited as Trustee for Health Employees Superannuation Trust Australia, earned 5.33%, 5.09% and 5.19% of voting power respectively.

Recently, Nufarm’s CFO, Paul Binfield, delivered a presentation at the Macquarie Australia Conference in Sydney, commenting on the first-half ended 31st December 2019 (H1 FY19), an overview of Nufarm’s strategy and the future outlook. Nufarm’ first-half EBITDA results on the back of strong trading in the Americas (Latin American and North American) and Seed Technology businesses, were counterbalanced by a dry season in Australia and supply interruptions in Europe.

For H1 FY19, the Group revenues amounted to $ 1.58 billion, up 8% on the prior corresponding period (pcp) and the net loss after tax was reported at $ 13.6 million (1H FY18: $ 12.0-million profit). Besides, the EBITDA declined by 2% to $ 120.9 million, while the average net working capital to sales increased to 45.3%. The net debt rose to $ 1,577 million.

Currently, Nufarm is advancing the commercialisation of the Omega 3 canola platform while the performance improvement program in Australia is also underway.

CSR Limited

CSR Limited (ASX: CSR) operates as a diversified manufacturing company in Australia, as well as in Asia and New Zealand. Its’ key business segments include Viridian Glass, Aluminium, Property and Building products. CSR has a market capitalisation of around AUD 1.69 billion with ~ 501.62 million outstanding shares. On 10th May 2019, the stock of the company last traded at A$3.330 (as on 10 May 2019), down by 1.187% from its previous close. The stock has also generated a positive YTD return of 21.66%, and the company’s annual dividend yield stands at 7.72%.

Recently, the company released its results for the full year ended 31st March 2019. The net profit after tax from continuing operations was reported at $ 181.7 million. The Building Products revenue was around $ 1.7 billion, up 1% with growth across most products and segments. An EBIT of ~ $ 206.5 million was invested in R&D, innovation and building new systems to achieve growth in the long term.

CSR’s Managing Director, Rob Sindel commented on the results and stated that the Building Products business was the best performing segment for the closing year, even though the residential construction market was bleak in the last few months. This depicts that increased exposure to the non-residential market has helped CSR to position its investments in both innovative product solutions as well as growth-linked capex.

The statutory net profit after tax (including discontinued operations) was recorded at $78.0 million, which included an after-tax loss of $ 0.9 million related to the Viridian Glass business sold on 31st January 2019.

On 8th May 2019, CSR also declared to pay out a fully paid dividend of AUD 0.130 by 2nd July 2019 relating to a period of six months.


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