2 Nov 2011

Nuplex forecasts flat trading conditions in volatile market

1:41 pm on 2 November 2011

Listed resins maker Nuplex has re-itereated it expects trading conditions to be flat for the 2012 financial year, reflecting a slowdown due to volatile global market conditions.

The company told shareholders at its annual meeting in Auckland on Wednesday that earnings before interest and tax would be in line with last year's $131 million.

Chief executive Emery Severin says monthly trading conditions have been volatile and these are uncertain times.

The company withdrew a resolution to lift the directors' fee pool by half to $1.5 million due to investor disgruntlement.

It says it will revisit its request next year and will include more information about why shareholders should support it.