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Orica Reports Fall in Profits and Sales

4:13 AM MDT | May 5, 2010 | Deepti Ramesh

Orica recorded a 75% fall in net profits for its fiscal first half ended March 31, 2010, to A$55 million ($50.5 million), compared with the year-ago period. Sales decreased 18.5%, to A$3.2 billion. Orica’s chemicals business segment recorded a 12% fall in sales for the first half, to A$711 million. Ebitda for the chemicals segment increased 8.5%, to A$112 million. Second-quarter figures were not disclosed. “We knew the first half would be tough compared with 2009 and that has proven to be the case, with year on year softness in volumes,” says...

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