Incitec Pivot H1 profit more than triples

SYDNEY, May 5 (Reuters) - Australian fertiliser maker Incitec Pivot Ltd (IPL.AX: Quote, Profile, Research, Stock Buzz) said on Monday its first-half profit more than tripled, spurred by a massive increase in fertiliser prices, and said its full-year forecast looked conservative.

The company, which has made a A$2.6 billion ($2.4 billion) bid for explosives group Dyno Nobel Ltd DXL.AX, posted a net profit excluding items of A$171.1 million for the six months to March, up from A$49.6 million in the same period a year earlier.

Five analysts on average had expected a net profit of A$170.3 million before one-offs.

Incitec has agreed to take over Dyno Nobel as it looks to take advantage of surging demand for both fertiliser and explosives, both of which are made from the same nitrogen-based chemicals.

Riding an agriculture boom, Incitec's shares have risen 47 percent so far this year to A$171.50 and vaulted them into the top 6 performers in the S&P/ASX 200 index . ($1=A$1.07) (Reporting by Miranda Maxwell)