ORI News: Basic Materials Roundup: Market Talk - 10th Nov 2023, 10:51pm

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0041 GMT – Orica is returning to healthy free cash flow after more patchy times during Covid, say Macquarie analysts, who reckon the explosives maker’s cash generation was the highlight of its FY result. Strong cash generation should help reduce gearing further, possibly to 16% in FY 2024 and 15% in FY 2025, compared with 19% at end-FY 2023 and a 30%-40% target, the analysts say in a note. Orica is down 0.1% at A$15.46.

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