November 25, 2014 10:26 PM ET

Diversified Financial Services

Company Overview of Nufarm Finance (NZ) Limited

Company Overview

Nufarm Finance (NZ) Limited issues Nufarm Step-up securities primarily in Australia and New Zealand. It acts as a financing company for the Nufarm Group. The company is based in Auckland, New Zealand. Nufarm Finance (NZ) Limited is a subsidiary of Nufarm Limited.

6 Manu Street

Otahuhu

Auckland,  

New Zealand

Phone:

64 9 270 4150

Fax:

64 9 270 4159

Key Executives for Nufarm Finance (NZ) Limited

Chief Financial Officer
Age: 49
Director
Age: 68
Group Executive of Corporate Services and Company Secretary
Group Executive Human Resources and Organisation Development
Group Executive of Global Marketing and Business Development
Age: 55
Compensation as of Fiscal Year 2014.

Nufarm Finance (NZ) Limited Key Developments

Nufarm Finance (NZ) Limited Reports Audited Earnings Results for the Full Year Ended July 31, 2014

Nufarm Finance (NZ) Limited reported audited earnings results for the full year ended July 31, 2014. For the year, the company reported net finance income was AUD 15,674,379 against AUD 17,331,918 a year ago. Profit before income tax was AUD 15,674,379 against AUD 17,331,918 a year ago. Profit for the period was AUD 9,668,244 against AUD 11,461,961 a year ago. Basic and diluted earnings per share were 96.7 cents compared to 114.6 cents for the same period last year. Net cash from operating activities was AUD 18,283,138 against AUD 16,799,859 a year ago.

Nufarm Finance (NZ) Limited Announces Audited Financial Results for the Year Ended July 31, 2014

Nufarm Finance (NZ) Limited announced audited financial results for the year ended July 31, 2014. For the year, the company reported profit from ordinary activities after tax attributable to security holders of AUD 9,668,244, decreased 16% year on year. Net profit attributable to security holders was AUD 9,668,244 decreased 16% year on year.

Nufarm Finance to Close NZ Manufacturing Plant; to Consolidate Regional Manufacturing Activity at its Existing Laverton (Victoria) Facilities; to Expand Warehouse and Logistics Support in the South Island

Nufarm Finance (NZ) Limited announced that, following a review of its New Zealand manufacturing operations, it will close the facility at Otahuhu, near Auckland, and further consolidate regional manufacturing activity at its existing Laverton (Victoria) facilities. The additional rationalisation of manufacturing activity - which follows the announcement on 18 March of the reorganisation of the Australian operations - is expected to result in annualised savings of $3 million, bringing total regional savings to approximately $16 million when all changes are fully implemented. The closure of the New Zealand facility and associated transfer of production activity will be undertaken over a two year period. Up to 59 New Zealand based manufacturing related positions will be affected by the planned changes. Nufarm will record one-off restructuring costs in the current financial year of $11 million, of which $9 million is a non-cash impact. This brings total restructuring costs associated with the changes in Australia and New Zealand to $50 million, of which $37 million is a non-cash impact. The transfer of manufacturing activity from New Zealand to expanded facilities at Laverton will increase the utilisation and efficiency of those facilities; will result in lower unit costs; and will reduce the region's maintenance related capital expenditure and working capital requirements. In addition, the company will expand warehouse and logistics support in the South Island to support the company's growing business in the south.

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