February's north-west Queensland floods continue to take their toll with fertiliser giant Incitec Pivot Ltd saying it will cost them over a hundred million dollars.
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In a presentation of its first half 2019 results on Monday IPL managing director and CEO Jeanne Johns said a "one in a 100 year flood" caused an outage of the rail line between Phosphate Hill and Townsville for three months from the end of January to the end of April.
"The forced closure of the Phosphate Hill (operation) due to the rail outage resulted in around 250,000 metric tonnes in lost production for the financial year 2019," Ms Johns said.
She said manufacturing did not resume until mid May, with an associated first half of 2019 hit of $60m to earnings before interest and taxes.
A further $55m is expected to be written off for the second half of the year because of the flooding's impact on product movements.
The international fertiliser and explosives producer has reported $141m in non-recurring events in its pre-tax earnings for the six months to March 31.
After deducting about $141m in non-recurring events, and prior corresponding period impairments were stripped out, Incitec Pivot's profit for the first half of 2018-19 fell more than 70 per cent to $42m.
Incitec Pivot Limited has also booked hits to its earnings before interest and tax of $20m at Phosphate Hill.
Meanwhile, IPL say discussions with third party suppliers are continuing to secure affordable gas for the Gibson Island ammonia plant in Brisbane through to 2022.
Last year IPL signed an $800m contract with Jemena to deliver 32TJs of gas per day to Gibson Island via the Northern Gas Pipeline.
However now IPL has warned if it is unable to lock in an affordable gas deal, the site's manufacturing operations will close at the end of this year.
A decision on the talks' progress was expected "in the near term".
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