Incitec Pivot appoints interim CFO, cuts production guidance
Make us a preferred source
Make us a preferred source on Google
The news: Fertilisers and explosives giant Incitec Pivot has named group financial controller Damian Buttler as interim chief financial officer, as it continues its search to replace former CFO Paul Victor, who leaves this month.
The company also said that its full-year outlook remains "broadly in line" with the forecast set out in November, despite trimming production guidance at its Phosphate Hill plant in north-west Queensland.
The numbers: Incitec Pivot said that its commercial explosives business Dyno Nobel is on track to achieve its FY25 forecast, with earnings skewed 60% to the second half of the year.
However, the company has cut full-year production guidance at Phosphate Hill from between 790 kilo metric tonnes (kmt) and 860 kmt to 740 kmt to 800 kmt.
The context: The guidance revision at Phosphate Hill was due to additional maintenance works, as well as interrupted supply of metallurgical gas to the Mount Isa plant impacting the supply of sulphuric acid to the site.
Incitec Pivot is also awaiting confirmation from its rail infrastructure provider on when rail services will resume, with the rail line between Phosphate Hill and Townsville currently closed due to flooding in Northern Queensland.
The source: ASX announcement
