Orica (ASX:ORI) announces improved first-half result

Commercial explosives group Orica has announced a statutory net loss after tax of $85 million. However, sales revenue has grown 25 per cent to $3.3 billion, while underlying net profit after tax grew to $129.2 million, up 71 per cent on the prior corresponding period.

The results reflect “improved performance driven by strong global commodity markets.”

Shares in Orica (ASX:ORI) are trading 4.6 per cent higher at $16.39.