AUSTRALIA'S ORICA POSTS YR NET PROFIT OF US$224.1 MLN.

AsiaPulse News, November, 2004

MELBOURNE, Nov 3 Asia Pulse - Chemicals and explosives firm Orica Ltd (ASX:ORI) said today that its North American mining services business should reach its set performance target in fiscal 2005.

"The North American business ended up at a 16 per cent return on net assets (RONA) in 2004, which was very pleasing," Orica managing director Malcolm Broomhead told reporters.

"And provided there's no unanticipated disruptions in the market in 2005, we should achieve our 18 per cent RONA hurdle."

Orica today announced a net profit for the year to September 30, 2004 of A$327.8 million (US$224.1 million), up from the A$100.7 million in the previous year.

The company said it was confident that its strong earnings momentum would continue in 2005,...