5 Nov 2014

Nuplex forecasts rising profit

2:10 pm on 5 November 2014

Nuplex says its underlying operating profit will be a little ahead of last year.

Nuplex chief executive Emery Severin told the annual shareholders meeting in Auckland this morning, that the operating profit will be between $115 million and $125 million for the year ending June next year.

He said that was once the sale of Nuplex Specialties and Nuplex Masterbatch to Axieo was completed this month.

If it was not for the sale, Mr Severin said the profit forecast would be between $127 million and $137 million, slightly ahead of last year's $125.7 million.

"If you include like-for-like, in other words, include the specialities business, it is up on last year".

"The concerns might be around Australia and Europe, the upside on growth is actually turning Australia around this year and also modest growth in Asia and potentially growth in Europe", he said.

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