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 joined FNN in January 2017 with a passion for equities and funds management. As Head of News, she has been a broadcast journalist for over seven years, specialising in finance. She has been a journalist with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for regional Channel 7 and 9. She also previously worked as a financial planner and real estate agent.