Iluka Resources (ASX:ILU) has reduced its net loss from $224 million to $172 million for the year to December 2017.
The exploration company’s revenue lifted 40 per cent for the 12 months to December to just over $1 billion
Underlying earnings (EBITDA) increased 140 per cent to $361 million.
Iluka declared a final dividend of 25 cents per share fully franked. The company has also announced a new dividend reinvestment plan.
The company says the net loss reflects adjustments previously announced over the course of the year including the $106 million (post tax) impairment of the Hamilton mineral separation plant.
Shares in Iluka Resources (ASX:ILU) are trading 4.08 per cent higher to $10.60