Chemical and resins maker Nuplex Industries says its full year gross earnings will be flat because of weak manufacturing and construction markets in Australasia.
The listed company says operating earnings will be about $131 million for the year to June, which is similar to last year's result.
Nuplex had predicted flat to 5% earnings growth in December.
Sluggish manufacturing and construction sectors in Australia and New Zealand had already dampened earnings in the first half of the year and Nuplex says that trend has continued, with volumes down by a greater-than-expected 12%.
Trading is flat in Asia and the US, while volumes in Europe have fallen due to weak demand in southern parts of the region once recent acquisitions are excluded.
Nuplex notes raw material costs and exchange rates have fluctuated wildly, though the company says its cost reduction plan is helping boost its unit margins.
