Orica sees subtle blast down in profits

Company News

by Jessica Amir

The explosives and blasting giant, Orica (ASX:ORI) has reported its net profit after tax fell 0.7 per cent on FY16 to $386.2 million for the 2017 year ending 30 September.

Its revenue also saw a softer 2017 and fell 1 per cent on FY16 to $5.04 billion.

Its earnings before tax (EBIT) fell 1 per cent to $635.1 million.

The company declared a final unfranked dividend of 28 cents per share, and an interim dividend of 23.5 cents, 3 per cent franked.

Unfortunately, over the period, the group saw 2 fatalities. Also over the same period its product volumes rose, and its return on assets rose while its gearing dropped.

Shares in Orica (ASX:ORI) are trading about 7.6 per cent lower to $19.75

Jessica Amir

Finance News Network
Jessica is the head of news and a senior finance journalist and presents bulletins including the Market Outlook, Market at Midday and Market Wrap. She also interviews ASX CEOs and leading fund managers. She joined FNN in January 2017 with over six years of broadcast journalism experience including with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for Prime 7 and WIN News. Jessica has worked in financial planning for over six years with leading wealth managers and in real estate.