Orica Limited (ASX:ORI) released its half year results for month ending 31 March 2020.
- Total AN product volumes was up by 4% at 1.95mt
- EBIT was up by 2% at $309 million or 5% after adjusting for China business structure change despite bushfires and COVID-19.
- Statutory NPAT stood at $165 million compared to $33 million in pcp.
- Group gearing was at 33.7% reflecting strong balance sheet and liquidity position
- Unfranked interim dividend was declared of 16.5 cents per share payable on 8 July 2020, representing a 40% payout ratio.
90% of the company’s volumes remains intact following COVID-19 with limited impact in Australia and USA that are its major regions.