Continuous disclosure

Nuplex's buying and selling of businesses in rapid succession this week had a positive effect on its share price, pushing it up 20c to $4.45 yesterday.

The company - Australasia's largest producer of resins for paints, inks and adhesives - carried out two transactions within 24 hours.

It bought the chemicals and plastic raw material business of PML Holdings for $44 million, then sold its environmental services business to ASX-listed Transpacific Group Industries for $56 million.

Managing director John Hirst said the Australasian industrial waste operations, as well as the medical waste concern in New Zealand, were not core to future business.

The deals were not expected to impact on full-year earnings as they balanced each other out.

He said the change would see the company consolidate its operations around a tighter skill set, which would lead to greater efficiencies, growth of expertise and the delivery of better services and products.

The company's shares rose 56c over the week.

The company recorded an $800,000 rise in net profit to $29.2 million for the latest year, a modest result given a $279.5 million or 42 per cent leap in revenue to $937.3 million, thanks to a boost provided by its Coatings Resins business in Holland.

This year, the company has faced a softening in parts of its key Australian, Asian and European markets and a rapid rise in petrochemical raw material costs.

In its last outlook, in August, the company was anticipating continuing flat business conditions in Australasia, with some recovery in Asia.

Market conditions in Europe and the United States were expected to hold steady.

Nuplex shares have traded as high as $6.20 in February this year and as low as $3.39 in May.

It has also been announced that the company's shareholders will have to pay tax on their dividends next year.