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Regions :: Australia/New Zealand

Orica reports fall in profits

12:01 AM MDT | May 13, 2014 | Deepti Ramesh

Orica (Melbourne) reports a 7.7% fall in net profits for its fiscal first half, ended 31 March, compared with the corresponding period of the previous fiscal year, to A$242.1 million ($226 million). Sales for the first half of the fiscal year increased by 1.0%, to A$3.35 billion. Lower mining services' volumes and a reduced profit from the chemicals business hurt results, Orica says. Ebit for the period was down 7.3%, to A$402.4 million, and Ebitda decreased 3.1%, to A$552.8 million. Orica’s chemicals segment reports a 3.6% fall in first-half sales compared...

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