24 Feb 2012

Nuplex profit down

12:49 pm on 24 February 2012

Half year profit for Nuplex fell by more than a fifth, as its New Zealand and Australian markets remain weak.

The resins and chemicals maker made $24.1 million in the second half of 2011, compared with $31.1 million in the same period a year earlier.

Revenue fell 2% to $747 million.

Chief executive Emery Severin says the company performed well in the United States and Europe, but weak New Zealand and Australian markets weighed on profits.

Nuplex will pay an unchanged interim dividend of 10 cents per share.

Shares in the company fell 4 cents on Friday to $2.61.