May 8, 2013
/PRNewswire/ -- Orica (ASX: ORI) today announced a statutory net profit after tax and individual material items of
for the half year ended
31 March 2013
or 6% compared with the previous corresponding period (pcp) of
Earnings before interest and tax (EBIT) for the period rose 6% on the pcp to
and earnings before interest, tax, depreciation and amortisation (EBITDA) was
, up 8%. The Orica Board has declared an interim dividend of
per ordinary share (cps), franked at
The half year result reflects the early benefits associated with an increased service offering and an improved product mix, in addition to Orica's renewed focus on better manufacturing performance. Orica's EBIT result however was offset by the significant weakness in demand and pricing for ground support products and services and higher depreciation costs.
In Mining Services, a
EBIT (up 5% on pcp) reflected steady pricing for explosives, success in providing value added products and services in explosives and improved pricing and stronger demand for sodium cyanide (up 6%). Outside the Australia Pacific region, results were impacted by weakness in
coal markets and most West European markets.
Chemicals achieved a 13% increase in EBIT to
in pcp), including due to improved conditions in the
dairy sector and Bronson & Jacobs volume and market growth.
Results for ground support products and services reflect difficult market conditions affecting demand in all regions. The global integration of these operations, primarily into Mining Services, has progressed rapidly towards full completion this financial year.