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Orica reports fall in profits

3:58 AM MST | November 12, 2012 | Deepti Ramesh

Orica (Melbourne) recorded a 37% fall in net profit after tax and individually material items for the full fiscal year, ended 30 September 2012, compared with the previous fiscal year, to A$403 million ($420 million). Full-year sales increased 8%, to A$6.67 billion. Fourth-quarter results were not disclosed. “Higher demand in mining markets in Australia, Asia, and Latin America; and improved pricing mostly offset the adverse earnings impact arising from incidents at Kooragang Island and foreign exchange movements,” Orica says. Orica’s chemicals...

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