Orocobre
(ASX:ORE) has bounded ahead into positive territory, reporting record net profit after tax (NPAT) of US$19.4 million for the 2017 financial year, recovering from a $US22 million loss for FY16.
But in some negative news for the company its revenue fell over the 2017 financial year, to US $17.4 million.
Orocobre’s earnings before interest tax impairment and foreign exchange gains decreased to US$8.26 million
The Lithium Carbonate miner says the record profit was driven by record production of 11,862 tonnes of Lithium Carbonate.
The boost in production largely contributed to their increase in available cash to US $51.6million, an increase of US$20 million from FY16.
The company declared no dividend for FY17.
Shares in Orocobre
(ASX:ORE) were trading 7.99 percent higher to $3.65
