Resins maker Nuplex has reported a record profit for the half year.
The company made $34.6 million in the six months to December, compared to $6 million in the same period a year ago.
Sales fell 10% to $715 million due to the global downturn, which prompted Nuplex to axe jobs and shift production to higher value products, while a $160 million capital raising last year cut interest costs.
Nuplex says China, South East Asia and Australia - which accounts for some 40% of its business - has provided much of the growth, while Europe and North America remains depressed.
Looking ahead, Nuplex has again lifted its full-year earnings forecast to between $125 million and $135 million, due to higher prices and cost savings from a slimmed down operation.
The company will pay a dividend of 10 cents per share.
