News: Orica H1 profit beats expectations

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    Explosives maker Orica Limited (ASX:ORI) says its first half net profit fell 4 per cent to $253 million. The result has come in better than expected in a period that saw Orica impacted by chemical leaks at its ammonia plant in New South Wales and a strong Australian dollar. 



    CEO and Managing Director Ian Smith says the result reflects a pleasing underling performance in the business particularly in Australian, Asian and Latin American mining markets.



    Orica has affirmed its forecast for full year profit growth, subject to plant performance and global economic conditions.



    Shares in Orica closed 1.74 per cent lower on Friday to finish the week at $26.54.



    An interim dividend of 38 cents per share has today been declared.


 
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