Nuplex FY profit drops 31 percent on weak ANZ, EMEA markets, writedowns

Wed, 14 Aug 2013

By Jonathan Underhill Aug. 15 (BusinessDesk) – Nuplex Industries, which had cut its earnings guidance three times, posted a 31 percent drop in full-year profit on weaker earnings from its resins division in the ANZ and EMEA regions and one-time charges. The specialty chemicals company expects to lift earnings in 2014. Net profit fell to $42.9 million, or 21.7 cents a share, from $62.5 million, or 31.8 cents, a year earlier, the Auckland-based company said in a statement. Sales rose 3 percent to $1.66 billion. Profit lagged behind First NZ Ca...

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