22 Aug 2011

Nuplex profit rises to $66m

2:01 pm on 22 August 2011

Nuplex has announced a higher annual profit despite mixed market conditions and higher raw material costs.

The listed resins and chemicals maker made $66.5 million in the year to the end of June, an increase of 7.5% compared with a year ago.

Gross earnings fell just over 6% to $131 million due to rising raw material costs, weak Australasian economic conditions and a higher New Zealand dollar.

Shares in Nuplex rose 23 cents to $2.60 during Monday morning trading.