NZ's Nuplex year profit up 84 pct

WELLINGTON, Aug 25 (Reuters) - New Zealand-based resins and chemicals maker Nuplex Industries Ltd (NPX.NZ: Quote, Profile, Research, Stock Buzz) on Thursday reported a 84 percent rise in full year profit as it restructured its operations.

The company reported a net after tax profit of NZ$48.3 million ($34 million) for the year ended June 30 compared with NZ$26.2 million last year.

Analysts surveyed by Reuters Estimates had expected a net profit of NZ$49.3 million.

Shares in Nuplex closed on Wednesday at NZ$6.30. So far this year the stock has lost 9 percent compared with an 18 drop in the benchmark NZSX-50 index .NZ50.

The company declared a dividend of 23 cents a share, compared with 20.5 cents a share last year.

The company said in February it expected earnings before interest, depreciation, and amortisation (EBITDA) of about NZ$120 million.

EBITDA for the year was NZ$121.8 million compared with NZ$104 million last year. ($1=NZ$1.42)