Orica flags job losses

EXPLOSIVES and fertiliser maker Orica says it expects operational issues and writedowns to cut its first-half earnings before interest and tax by nearly $400 million.

Meanwhile, it has flagged a further streamlining of its businesses, including job losses, to deliver an incremental $30 million per annum from FY19.

Orica says its Minova business has continued to underperform and it anticipates it will take a non-cash impairment and increase provisions for environmental commitments totalling $300 million.