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Orica Reports Fall in Profits

12:03 AM MDT | May 8, 2012 | Deepti Ramesh

Orica (Melbourne) recorded a 4% fall in net profit after tax and individually material items, for the fiscal first half ended March 31, 2012, to A$253.3 million ($255.8 million), compared with the year-ago period. Sales increased 11.6%, to A$3.29 billion. Orica experienced stronger demand in most mining markets and improved pricing which partly offset a $90 million impact to Ebit arising from loss of containment incidents at Kooragang Island and the adverse impact from foreign exchange movements, Orica says. The financial result “reflects a pleasing...

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