Orica Ltd (ASX:ORI) has firmed its full year net profit, rising 4.6 per cent to $675.8 million for the year to 30 September.
The explosives and chemical product provider says it delivered a record profit for the ninth year in a row, achieved in a year when it also successfully demerged DuluxGroup Ltd (ASX:DLX).
After the demeger net profit from continuing operations rose 11.1 per cent to $618.8 million.
A final dividend of 54 cents has been declared, fully franked due to the impact of the settlement of the Pharmaceuticals tax case.
Looking ahead, Orica says all of its regions should benefit from a global recovery and the continued consumer take up of electronic blasting systems and blast based services.
Orica expects group net profit after tax in fiscal 2011 to be higher than that reported in 2010 subject to the rate of global economic recovery and adverse movements in exchange rates.
Orica posted a $72 million profit in the six months to the 31 March 2010.
DLX Price at posting:
$2.73 Sentiment: None Disclosure: Held
