Orica Ltd (ASX:ORI) is a leading manufacturer of industrial & specialty chemicals, agricultural chemicals & fertilisers, commercial explosives & mining chemicals, paints & other consumer products in Australasia.

Orica has four broad business groups – Mining Services, Fertilisers, Chemicals and Consumer Products. ORI is a truly multinational company, with operations in over 40 countries. The company is listed on the Australian Stock Exchange and is part of the S&P/ASX 200.

Materials stock Orica announced today that it is resuming its Ammonium Nitrate production plant at Kooragang Island, near Newcastle.

The plant and several others have been closed since August, after thousands of litters of a dilute ammonium nitrate solution leaked from a storage facility.

Orica said re-start activities at the remaining facilities, are progressing.

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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.

Driving the result was a recovery in volumes across some of ORI’s markets, aided by better pricing and productivity improvements.

However, the result was impacted by the strong Aussie dollar, which wiped $17 million off the company’s earnings.

Orica said commodity demand was underpinning growth in its business, and that it expects FY11 profit to exceed FY10’s result, subject to forex movements and the rate of global economic growth.

An interim dividend of 37 cents was declared.  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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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.

Among the list of sectors on the ASX, ORI is categorised under materials.

On 8 November, ORI reported an FY10 net profit of $1.32 billion, with a one-off gain related to its Dulux demerger driving the result.

Underlying profit rose 4.6% to $675.8 million, which was slightly ahead of analyst estimates of a $675.8 million profit.

ORI contended with a slowdown in mining services during FY10, mainly due to unseasonable wet weather and poor demand in Europe.

The group is forecasting FY11 underlying profit to be higher than FY10 subject to the rate of global economic recovery and the extent of further unfavourable exchange rate volatility.

ORI declared a final dividend of 54 cents compared to last year’s 57 cents.

The company’s share price jumped 2.9% on the day of the announcement, making it one of the best performers in the Australian share market.

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