Orica full-year profit slips

Group confident of improved earnings in FY14 despite increased volatility.

Orica (ORI) has warned volatile conditions will add a greater degree of uncertainty to the trading environment in the year ahead, but is confident it will improve on its full-year profit from fiscal 2013.

In the year to September 30, Orica posted a net profit before materially significant items of $601.6 million, a 7.5% decrease on the $650.2 million recorded in the previous corresponding period.

In the same period sales revenue was $6.989 billion, a 3% increase on the previous year's $6.674 billion.

The group will pay a fully-franked final dividend of 55 cents.