Orica: Interim result 2013

A poor business is obscuring a great one and an opportunity may be brewing, says Gaurav Sodhi.

Since buying Minova, which makes ground support equipment for underground mines, Orica has reported financial results for its new division separately. No longer. At its interim result, the company announced Minova would fold into its giant mining services division. Shareholders who had been hoping for a sale will be disappointed. Instead of penance, Orica has opted for denial.

Management went so far as to cease mention of Minova altogether; it was presented as the ‘ground support business’. In a spookily Orwellian manner, the moniker ‘Minova’ has disappeared.

{{content.question}}

Mastercard

{{ twilioFailed ? 'SMS Code Failed to Send…' : 'An SMS verification code has been sent ...' }}

Hi {{ user.FirstName }}

Looks like you have already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to complete your SMS verification

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device


Verify your mobile number to proceed...

Please check your mobile number below and press the Send Verification Code button. This will be used to complete your verification in the next step.

Please sign up for full access

Mastercard

Updating information

Please wait ...

Trial

Mastercard
{{ productPrice }} / day
( GST included )
Price $0
GST $0
Discount -{{productDiscount}}
TOTAL {{productPrice}}
  • Mastercard
  • Visa

Please click on the ACTIVATE button to finalise your membership

Mastercard

The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device


Register as a new member

(using a different email)

Related Articles