Orica’s net profits soar above market forecasts
The world’s biggest industrial explosives maker Orica today beat market forecasts.
Their first half underlying profit jumped 10 per cent to $179 million.
Sales rose nine per cent to $3.6 billion.
Its dividend was also raised one cent to 19 cents a share.
Orica is rapidly expanding in the US, including the recently purchased Cyanco, which makes Orica the world’s biggest manufacturer of sodium cyanide – which is essential for gold production.
Orica’s net profits soar above market forecasts