Australia's Orica gains after positive H2 performance update
** Shares of Orica Ltd ORI.AX rise as much as 5.6% to A$18.61, their highest level since June 5
** Mining solutions provider says 2H2024 underlying EBIT, before contributions from Terra Insights and Cyanco, remains on track to be higher than prior year and slightly better than forecast
** Says total significant items for FY2024 is expected to contribute ~A$120 million net profit
** However, co says planned maintenance activities and safety upgrades at the Winnemucca plant has been brought forward into FY and has resulted in lower-than planned production for Specialty Mining Chemicals segment
** Adds, segment reporting changed to 3 reportable segments - Blasting Solutions, Digital Solutions and Specialty Mining Chemicals, following its recent acquisitions of Cyanco and Terra Insights
** Co to report FY results on Nov. 14
** Stock has risen 10.6% this year as of last close
($1 = 1.4828 Australian dollars)
Reporting by Sherin Sunny in Bengaluru
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