FORECAST: NPX: Nuplex EBITDA Guidance Increased

21 Jan 2010 5:13 pm

NPX 21/01/2010 FORECAST

REL: 1713 HRS Nuplex Industries Limited

FORECAST: NPX: Nuplex EBITDA Guidance Increased

NZX/ASX release 21 January 2010

Nuplex EBITDA guidance increased - a record result is in prospect Nuplex Industries Limited, the international industrial resins and specialties group, advises that its first half result for the 2009/2010 financial year is stronger than previously anticipated. This guidance is preliminary in nature and is subject to finalisation of the half year accounts as well as external audit review. However, Directors are confident that the result will be well above the previous record of $60.6 million achieved in the first half of the 2007/08 financial year.

With the return to normal levels of profitability and a continuation of excellent cash flows, the Board of Nuplex has confirmed that it will re-instate the payment of an interim dividend. Mr John Hirst, group managing director, said: 'It is proving as difficult to forecast the upside of the post global financial crisis period as it was the downside at this time last year. Trading conditions remained solid through November and December and raw material costs were stable, while our businesses continue to operate at increased levels of efficiency. As a consequence, we anticipate a record result for the first half.

'At this early stage, it is difficult to be certain of demand in the second half. However, current trends are unlikely to change in the near term and we are therefore raising our EBITDA guidance for the current financial year by NZ$10 - 15 million to a range of NZ$120 - 135 million. Earnings per share are anticipated to be in the range $0.28 - 0.34. The final result will depend on changes in global demand and petrochemical pricing. 'Nuplex will release its half year result on Thursday February 25, a day earlier than previously advised,' said Mr Hirst.

Nuplex Industries Limited is one of the world's top ten manufacturers of resins for coatings and composites, and one of Australasia's top four distributors of specialty products for the construction, chemical, plastic and life sciences industries. It has manufacturing operations in ten countries across Australasia, Europe, North America and Asia, and more than 50 per cent of revenue comes from outside Australasia. Nuplex is listed on the Australian and New Zealand exchanges.

For further information, please contact: John Hirst +61 2 9666 0331 Media enquiries: New Zealand: Amanda West, Merlin Consulting +64 9 585 1519 / +64 210 439 674 Australia: Ashley Rambukwella, Financial & Corporate Relations +61 2 8264 1004 End CA:00190393 For:NPX Type:FORECAST Time:2010-01-21:17:13:07

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