Business Services Industry
Orica's full year loss explodes to $125m.
Australasian Business Intelligence, August, 2001
Aug 9, 2001 (The Courier-Mail
ABIX via COMTEX) -- Melbourne-based explosives and chemicals group Orica has predicted a 2000-2001 loss of $A125m. The company blames a number of factors, including abnormal charges of $A185m. It also expects to take a $A70m hit from its decision to "hasten" its divestment from Australian Vinyls, in which it owns a 62 per cent share. Without the combined losses, the company said full-year earnings would have been $A60m. Although Orica expressed confidence that its performance will improve in 2001-2002, investors punished the company, with its shares falling $A0.24 to $A4.31 on 8 August 2001.
ORICA LIMITED - ASX ORI: AUSTRALIAN VINYLS CORPORATION
By Mathew Charles
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