In addition Pivot said the earnings guidance was based upon expectations that global influences would drive an increase in average DAP prices to a range of between $760 and $790 per ton in 2008. This follows strong international demand, supply disruptions in China and record high input costs of phosphate rock, ammonia and sulphur.

Phosphate Hill production, the company said, has been adversely impacted by railway line outages due to floods, the current interruption to feedstock supply at the Mt Isa sulphuric acid plant and scheduled maintenance shutdowns.

It was now expected that IPL''s ammonium phosphate production in 2008 would be approximately 900,000 tons, compared to 2007 production of 978,000 tons.

To mitigate future interruptions to ammonium phosphate production, Pivot said it was investigating a range of capital investment plans to address transport and storage of sulphur and sulphuric acid, as well as production streamlining at the Mt Isa sulphuric acid plant at a cost of $25 million in the next two years. Its share rose 0.5%.

ABC share falls on concerns over sale of assets

Childcare company, ABC Learning''s share slid 18.3% today to its lowest in 6 years on concern about the impact of its impending disposal of its US assets on its earnings.

Investors were worried that the sale of a 60% stake in its U.S. childcare centers to Morgan Stanley for $750 million would curb earnings growth.

ABC''s stock fell 43% when it last traded on Feb. 26 as a slump in earnings raised concerns it would struggle to repay debt. The company resumed trading today after it sold majority stake in its U.S. business. The deal means ABC Learning would surrender financial control of more than 40% of about 2,300 of its global childcare centers.

ABC Learning operates 1,000 centers across the U.S., more than 1,200 in Australia and New Zealand and 112 nurseries in the U.K., having spent about $1.06 billion expanding in those four countries since its first U.S. purchase in November 2005.