Australia's Nufarm to miss profit forecasts by 15pct

SYDNEY, June 16 (Reuters) - Nufarm Ltd (NUF.AX), an Australian farm chemicals group, will miss its previous earnings forecast for the current fiscal year by about 15 percent due to lower sales and higher competition, it said in a statement on Tuesday.

The company said that glyphosate sales in May and through the first half of June were tracking significantly below previous forecasts.

Nufarm had previously forecast a net operating profit of about A$220 million ($175 million). ($1=A$1.26) (Reporting by Denny Thomas;) ((denny.thomas@reuters.com; +61 2 9373 1812; Reuters Messaging: denny.thomas.reuters.com@reuters.net)) ((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com))