Changes are happening - please bear with us while we update our site.

Changes are happening - please bear with us while we update our site. Click here to give us your advice and feedback.

Orica (ASX:ORI) Grows Underlying Profit 15% In FY19 Result

Orica (ASX:ORI) has just reported its full year result to 30 September 2019, showing a swing to profit. 

Orica (ASX: ORI) has just reported its full year result to 30 September 2019, showing a swing to profit.

Orica is one of the world’s largest providers of commercial explosives and blasting systems. It supplies its products to various industries including mining, quarrying and oil & gas. It is also large supplier of sodium cyanide for gold extraction and it provides ground support for mining and tunnelling. It has been operating since 1874, operates in over 100 countries and has around 11,500 employees.

Orica’s FY19 Result

In the year to 30 September 2019, Orica grew its sales revenue by 9% to $5.9 billion thanks to higher volumes and services, increased penetration of advanced products and favourable foreign exchange movements.

In terms of its day to day profit, EBIT (click here to learn what EBIT means) rose by 8% to $665 million. Management said there was a strong business performance across all regions and improvement in its manufacturing operations.

Orica reported that its statutory profit was $245 million, up from a loss of $48 million last year. The Underlying profit increased by 15% to $372 million.

Orica Dividend

Orica’s Board declared a final dividend of 33 cents per share, bringing the full year dividend to 55 cents per share, which is an increase of 6.8% compared to last year.

Orica Management Comments

Orica Managing Director Alberto Calderon said: “Orica’s manufacturing and cost performance is improving across the board. Volumes are growing and our market-leading technology solutions are gaining traction with customers.

All our regions are performing strongly with Europe, Middle East & Africa reporting a particularly pleasing result in FY19 following focused efforts to improve this business. Increased penetration of our technology-based blasting solutions and contract wins have driven sales revenue 9% higher for the period. 

Orica Outlook

The company said that the outlook for FY20 and beyond is positive. It’s expecting higher earnings this financial year underpinned by increased demand and product mix across all regions and further take up of Orica’s technology.

[ls_content_block id=”19823″ para=”paragraphs”]

[ls_content_block id=”18380″ para=”paragraphs”]

$50,000 per year in passive income from shares? Yes, please!

With interest rates UP, now could be one of the best times to start earning passive income from a portfolio. Imagine earning 4%, 5% — or more — in dividend passive income from the best shares, LICs, or ETFs… it’s like magic.

So how do the best investors do it?

Chief Investment Officer Owen Rask has just released his brand new passive income report. Owen has outlined 10 of his favourite ETFs and shares to watch, his rules for passive income investing, why he would buy ETFs before LICs and more.

You can INSTANTLY access Owen’s report for FREE by CLICKING HERE NOW and creating a 100% FREE Rask Account.

(Psst. By creating a free Rask account, you’ll also get access to 15+ online courses, 1,000+ podcasts, invites to events, a weekly value investing newsletter and more!)

Unsubscribe anytime. Read our TermsFinancial Services GuidePrivacy Policy. We’ll never sell your email address. Our company is Australian owned.

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.

Skip to content