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People & Business :: Earnings/Finance

Orica lowers guidance on weaker-than-expected economic conditions

1:43 AM MDT | July 19, 2013 | Natasha Alperowicz

Orica (Melbourne) today announced a reduction of earnings guidance for the 2013 financial year. Group net profit after tax pre individually material items (NPAT) for the financial year is now expected to be about 10% lower than the prior year subject to global economic conditions. The company reported NPAT of A$650.2 million ($596.9 million) in 2012.   Orica cites higher optimization costs associated with the integration of the ground-support business together with weaker market conditions in Europe and North America. Ebit for the ground-support...

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