Nuplex cuts FY guidance again as Australian manufacturing splutters; stock drops

Fri, 17 May 2013

May 17 (BusinessDesk) – Nuplex Industries cut the range for its full-year earnings guidance by about $11 million, saying Australia’s manufacturing slump has dented demand for its resins, specialty chemicals and plastic additive products. The shares dropped about 9 percent. Earnings before interest, tax, depreciation and amortisation are expected to be in the range of $124 million to $129 million in the year ending June 30. That compares with the $135 million to $140 million range it gave with its half-year results, which was itself a downgrad...

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