Nuplex 1H profit misses forecasts; annual guidance cut on strong kiwi, weak trading conditions

Wed, 20 Feb 2013

By Paul McBeth Feb. 21 (BusinessDesk) - Specialty chemicals maker Nuplex Industries missed expectations as its net profit more than halved and the company cut its forecast for annual earnings, blaming the strength of the currency and weak trading conditions in Australia and Europe. Net profit sank to $11.5 million, or 5.8 cents per share, in the six months ended Dec. 31 from $24.1 million, or 12.3 cents, a year earlier, the company said in a statement. Sales gained 11 percent to $828.7 million, while earnings before interest, tax, depreciati...

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