Australia's Orica eyes best day in 15 months on better H1 outlook

ORICA

15/02/2024 03:17

** Shares of Orica  ORI.AX  rise as much as 4.2% to
A$16.920, on track for their best day since Nov. 9, 2022, if
gains hold 
    ** Stock hits highest level since May 12, 2023
    ** Mining solutions provider sees slightly better H1 FY24
EBIT from continuing operations compared to earlier outlook
    ** Orica had forecasted earnings to be skewed to second half
of FY24 earlier 
    ** Co completes stage 1 of sale of surplus land at Deer Park
in Victoria for A$260 mln ($168.61 mln) 
    ** Says net profit after tax from sale is A$173 mln which
will be recognized as an individually significant item in H1
FY24
    ** Orica up 1.9% this year as of last close 
   


($1 = 1.5420 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))