Sydney - Wednesday - November 12: (RWE Aust Business News) - Orica (ASX:ORI) expects net profit for FY09 to be higher than FY08, the chief executive Graeme Liebelt said. "So far we haven't seen any slowdown in the majority of our markets," he told corporatefile.com.au. "In our main mining markets, demand continues to be quite strong and we expect that to continue. "However, we certainly see a slowdown in some of the Australian manufacturing markets we go into within our chemicals business, and in the paints business demand has been relatively steady in Australia but down in New Zealand. "In mining services we need to watch carefully. "If the severe economic downturn that's likely to come reduces China's growth rate and that of other developing nations, it will play into demand in the mining sectors. "But we remain optimistic and expect we'll see continued firm demand through the course of 2009. "We've been expecting to see improving volumes come through as infrastructure constraints were released, and in the second half of 2008 we saw stronger growth than we did in the first half."
ORI Price at posting:
$15.77 Sentiment: Buy Disclosure: Not Held
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