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BRIEF-Orica Says Full Year Capital Expenditure Expected Towards Top End Of Range $300 Mln To $320 Mln

Published 07/05/2018, 08:53 am
Updated 07/05/2018, 09:00 am
© Reuters.  BRIEF-Orica Says Full Year Capital Expenditure Expected Towards Top End Of Range $300 Mln To $320 Mln
ORI
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May 7 (Reuters) - Orica Ltd ORI.AX :

* ON TRACK TO DELIVER FULL YEAR SALES VOLUMES AT UPPER END OF GUIDANCE

* CAPITAL EXPENDITURE FOR FULL YEAR IS EXPECTED TO BE TOWARD TOP END OF RANGE OF $300 MILLION TO $320 MILLION

* OUTLOOK FOR SECOND HALF OF FY18 REMAINS UNCHANGED FROM UPDATE RELEASED ON 1 MARCH 2018

* SECOND HALF GLOBAL AN VOLUMES ARE EXPECTED TO INCREASE BY AROUND 10 PER CENT FROM FIRST HALF

* FULL YEAR GLOBAL AN VOLUMES ARE EXPECTED TO BE AT UPPER END OF PREVIOUSLY STATED RANGE OF 3.65MT +/- 5 PER CENT

* "SIGNIFICANTLY STRONGER EBIT IS EXPECTED IN SECOND HALF"

* SECOND HALF RESULT WILL BENEFIT FROM DEFERRED CONTRACT RENEGOTIATIONS OFFSET BY LOWER FORECAST BUSINESS INITIATIVES

* BURRUP PERFORMANCE REMAINS UNCERTAIN UNTIL A PERMANENT FIX IS COMPLETED

* BOTANY ENVIRONMENTAL PROVISION EXPENSE "INCREASED BY $115 MILLION FROM 30 SEPTEMBER 2017 TO $178 MILLION"

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