November 11, 2019 / 10:05 PM / a month ago

Australia's Incitec Pivot posts 26.7% drop in annual profit

Nov 12 (Reuters) - Australia’s Incitec Pivot on Tuesday posted a 26.7% drop in annual profit, hurt by a flood and rail outage in the Queensland state and higher gas costs.

The fertiliser and explosives producer reported net profit after tax of A$152.4 million ($104.20 million), compared with A$207.9 million a year ago.

The company also declared a final dividend of 3.4 Aussie cents per share. ($1 = 1.4588 Australian dollars) (Reporting by Shriya Ramakrishnan in Bengaluru Editing by Chris Reese)

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