Incitec Pivot, the fertilizer and chemical business today confirmed that all businesses under its wings have managed to perform in-line with the expectation pegged since the last fiscal year ended for the firm.

However, the firm did say that it was still too early to get any strong hints as to how the performance will be for the current financial year.

Chief Executive James Fazzino, while speaking at the company's yearly meeting in Melbourne, stressed that he would be giving out an update on the company's expected development of an ammonium nitrate plant at Moranbah in central Queensland before the current financial year comes to a close in March 2010.

"We made progress across a range of areas, ensuring that we came out of the financial and market storms of 2009 better placed to weather the challenges of 2010. In relation to the 2010 year, we normally don't get a strong indication of the likely direction of the year until the second quarter", said Mr. Fazzino.

Mr. Fazzino was appointed the firm's CEO in August this year, right before it released a loss of $179.9 Million for the 2009 fiscal year, and 2010, according to him, will be "another challenging year".