Sydney - Monday - November 10: (RWE Australian Business News) -...

Sydney - Monday - November 10: (RWE Australian Business News) -
Orica Ltd (ASX:ORI) lifted net profit 10.6pc to $539.6m in the 12 months
ended September 30 from $487.7m for the previous year.
Net profit before individually material items rose 15pc to
$572.3m from $497.8m.
Sales revenue rose 18.4pc to $6.54bn from $5.53bn.
Basic earnings per share were $1.598, up from $1.463, while
underlying EPS was $1.70, up from $1.495.
Final dividend has been increased from 53c to 55c, franked to
20c, payable on December 5 to shareholders registered November 18.
This brings total dividends for the year to 94c, up from 89c.

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Managing director Mr Graeme Liebelt said the result showed the
strength across Orica's business platforms despite challenging market
conditions during 2008, including unfavourable foreign exchange
movements and rising input costs.
"The record result marks our seventh consecutive year of profit
growth. It also highlights the continued strength in Orica's underlying
earnings with all of our business platforms achieving double-digit
growth," Mr Liebelt said.
"Orica's Mining Services business had a record result, with an
11pc increase in EBIT reflecting earnings growth in all regions from
increasing volumes, benefits from increased ammonium nitrate prices and
the successful integration of the former Dyno Nobel businesses. All
regions within Mining Services achieved record results in 2008.
"The Dyno integration is now complete and has delivered
synergies of $92m (against a targeted $90m) a full 12 months ahead of
schedule. Our successful integration model is now being used to imbed
the Minova-Excel businesses into Orica and this is on track to achieve
the expected synergy targets.
"Minova earnings increased 144pc to $150m as a result of
underlying business growth, an additional three months' contribution
from the base Minova business and an Excel contribution in line with
expectations.
"Minova's underlying performance in the mining sector improved -
most notably in emerging markets of Russia, Eastern Europe and China.
The tunnelling business had a much improved second half with the benefit
of some major projects in Europe.
"Consumer Products achieved underlying earnings growth of 10pc
to a record $123m. Most pleasingly, this business continues to increase
its market share in Australia across all segments and reap the benefits
from a strong focus on branding, innovation and customer service despite
relatively subdued market conditions, particularly in New Zealand.
"The recently formed Chemicals division, comprising the former
Chemical Services and Chemnet divisions, delivered underlying EBIT
growth of 18pc to $146m. The improvement in the Chemicals business is on
the back of favourable market conditions for sodium cyanide and the
benefit from our uprated Yarwun sodium cyanide plant.
"We also saw strong volume growth in most end-markets for
Watercare's products and services despite continuing drought conditions
in large areas of Australia. Chemnet's bulk chemicals businesses in
Australia, New Zealand and Latin America continue to improve and
collectively are well ahead of our 18pc return on net assets target."
Mr Liebelt concluded, "Orica's businesses have performed
strongly and we are confident they will continue to do so. Accordingly,
group net profit (before significant items) in 2009 is expected to be
higher than that reported in 2008.
"This is subject to global economic conditions and particularly
their impact on demand in developing nations."