Orica's Attributable Net Profit Climbs 77% in Fiscal 2024; Revenue Down 4%

MT Newswires Live11-14 06:54

Orica (ASX:ORI) reported an attributable net profit after tax of AU$524.6 million for the 12 months ended Sept. 30, up 77% from AU$295.7 million in the year-ago period, according to a Thursday filing with the Australian bourse.

Analysts polled by Visible Alpha expected AU$522 million.

Earnings per share stood at AU$1.094 versus AU$0.645 a year earlier. Analysts surveyed by Visible Alpha expected AU$1.09.

Sales revenue fell 4% to AU$7.66 billion from AU$7.95 billion a year ago. The mean estimate compiled by Visible Alpha was AU$7.93 billion.

The blasting systems and mining chemicals provider declared a final dividend of AU$0.28 per share payable on Dec. 23 to shareholders of record as of Nov. 25, up from a payout of AU$0.25 per share a year ago.

Looking ahead, the company expects fiscal 2025 earnings before interest and taxes to rise year on year, though it flagged "ongoing challenges from inflationary pressures, higher energy costs and geopolitical risks."

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