Iluka Resources total mineral revenue up 49% & sales rise 64% FY17

Company News

by Jessica Amir

Iluka Resources (ASX:ILU) has announced its mineral sands sales revenue rose 48.8 per cent for the financial year ending 30 June 2017.

Meantime its total mineral sands sales climbed over 64 per cent [64.3 per cent] to 548.9 kilo tonnes for the year ending 30 June 2017.

On another positive front for the Australian-based mineral sands explorer and developer, it reduced its net debt to $305 million, down from $506 million in the December 2016 quarter.

Iluka says it reduced its debt position from its strong free cash flow in the first half of $180 million, coupled with the strengthening Australian dollar against the greenback.

Shares in Iluka Resources (ASX:ILU) are trading 3.34 per cent higher to $9.28.

 

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