14 Aug 2014

Nuplex's annual net profit jumps

2:50 pm on 14 August 2014

Nuplex's annual net profit rose nearly 17.7 percent, boosted by lower tax and a higher contribution from associate companies.

The resins manufacturer's operating profit was marginally weaker, although it did beat its June guidance.

That sent its shares up as much as 7 percent to $3.10 in morning trading today.

Nuplex's net profit of more than $52.4 million was struck on a 1.5 percent decline in sales while operating profit of $125.7 million beat the company's $121 - 125 million guidance.

Chief executive Emery Severin said the result was achieved despite a very weak performance in Australia, where operating earnings fell 40 percent.