Agricultural chemicals and seeds supplier Nufarm has more than doubled its first-half profit, thanks to strong growth from its South American business and tax credits.
Nufarm made a net profit of $18.8 million for the six months to January 31, up from $8.4 million a year ago.
The company said the result was boosted by a number of one-off tax credits during the half.
Meanwhile, it said strong growth in South America, especially Brazil, more than offset the impact of drought conditions in Australia and lower earnings from North America and Europe.
Group revenues lifted 22 per cent to $1.14 billion during the half.
Nufarm said it expected its full-year profit to be above the $81 million recorded for the 2012/13 financial year, despite challenging conditions in Australia and North America.
The company announced a fully-franked interim dividend of three cents per share, the same level as a year ago.