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Orica Limited (ASX:ORI) has forecast growth ahead after reporting a 3.8 per cent increase in its underlying net profit for the full year to the end of September.
The explosive maker’s latest result was boosted by ammonium nitrate sales that are expected to increase further when it opens its new ammonium nitrate plant in Indonesia next month.
In the 2011 financial year the company posted a 51 per cent drop in its net profit, coming in at $642.3 million, pulled down by the divestment of paint-maker DuluxGroup Limited (ASX:DLX) in July 2010.
Subject to global economic conditions Orica expects to improve its annual net profit before one-off items in the 2012 financial year.
A fully-franked final dividend of 53 cents per share has been declared.
