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 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.