Nuplex Says Expects Flat Profit

New Zealand-based resins and chemicals maker Nuplex Industries said on Thursday it expected to report a flat profit for the current year, with higher raw material prices and soft demand in some markets.

Nuplex said its net profit for the June 2011 year would be between NZ$62 million and NZ$65 million ($48.8 million to $51.4 million), compared with NZ$64.2 million in the year to June 2010. The company also said earnings before interest, tax, depreciation and amortization (EBITDA) would be between NZ$125 million and NZ$239 million, lower than previously forecast on restructuring of some of its operations.