Orica

Although revenue for the half year to 31 March 2012 rose 12% to $3.3bn, Orica reported a 4% fall in net profit to $253m. From earnings per share of 67.9 cents, a partly franked 38 cent dividend was declared (ex date 28 May). The profit fall came mainly from a $90m loss incurred from the closure of the company’s Kooragang ammonia plant after chemical leaks were detected. A combination of higher volumes and higher margins mostly offset that loss, demonstrating the strength of the business at this point in the cycle. Table 1: Orica's half-year results Half-year ending 31 March...

Although revenue for the half year to 31 March 2012 rose 12% to $3.3bn, Orica reported a 4% fall in net profit to $253m. From earnings per share of 67.9 cents, a partly franked 38 cent dividend was declared (ex date 28 May). The profit fall came mainly from a $90m loss incurred from the closure of the company’s Kooragang ammonia plant after chemical leaks were detected. A combination of higher volumes and higher margins mostly offset that loss, demonstrating the strength of the business at this point in the cycle.

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