Fertiliser helps Incitec flourish

INCITEC Pivot has more than doubled full-year profit courtesy of rising fertiliser prices and launched a $300 million buyback, but the future of the company’s Gibson Island plant in Queensland remains under a cloud as it struggles to secure new gas supply.

Incitec has reported net profit of $318.7 million, a rise of $190.6 million on the previous year, supported by a rebound in commodity and fertiliser prices.

Shares in Incitec Pivot closed up 4.8 per cent at $3.92.