Australian Share Market Stock Advice
June 30th, 2011
Australian Share Market Stock Advice
Orica Ltd (ORI) is a leading Australasian manufacturer of industrial and specialty chemicals, agricultural chemicals and fertilizers, commercial explosives and mining chemicals, and other consumer products.
Recently, ORI saw its first half underlying profit rise 5% on-year to $264 million. The result matched analyst expectations.
Orica said commodity demand was underpinning growth in its business, and that it expects FY11 profit to exceed FY10s result, subject to forex movements and the rate of global economic growth.
ORI shares rose 2.5% on the day of the announcement, making it one of the better performers in the Australian share market.
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