re: profit lift % please blackoil ASX AnnouncementOrica Delivers...

re: profit lift % please blackoil ASX Announcement
Orica Delivers 20% Profit Lift
Orica Limited today announced a net profit after tax before significant items for 2004
of $326 million, a 20% increase over the previous year.
A final dividend was declared of 45 cents per share franked at 21 cents – a rise of
32%. The final dividend brings the total dividend for 2004 to 68 cents per share – an
increase of 31% compared to the dividend for 2003.
Additionally, Orica has announced an on-market share buy-back of up to $250 million
as a tax effective way of returning funds to shareholders.
The profit, before significant items, represents earnings per share of $1.19 and a
return on shareholders’ funds of 23% compared with 20% last year. Sales revenue
of $4.6 billion was up 16%.
Orica Managing Director and Chief Executive Officer, Malcolm Broomhead, said that
the result showed the strength of Orica’s four business platforms.
"In 2004, each of our four businesses achieved record results. Chemicals topped $1
billion in revenue in a single year for the first time while Orica Consumer Products
achieved its first $100 million annual profit. Mining Services and Incitec Pivot also
grew strongly.
“Successful growth projects were also a highlight. These included organic growth at
Kooragang Island in New South Wales and Yarwun in Queensland, expansion into
new geographies and acquisitions including Bronson and Jacobs food and speciality
chemicals business and the Marplex Specialty Polymers Group. In total we
committed $305 million of capital as a strong foundation for growth” he said.
“In looking towards 2005, we anticipate continued strong earnings momentum driven
by underlying industry growth, productivity improvements, revenue increases through
organic growth and the benefits of recent acquisitions.”
Mr. Broomhead said the success of the company was achieved through the
employees continuing to embrace Orica's performance culture involving the
Principles of Safety, Health and the Environment, Commercial Ownership, Creative
Customer Solutions and Working Together.
November 3, 2004
Further information:
- Investors: Noel Meehan 03) 9665-7844 / 0413) 187-000
- Media: Stewart Murrihy 03) 9665-7538 / 0412) 675-510
- Web site: www.orica.com