Rare earth mining company Lynas Corporation (ASX:LYC) has reported its net profit after tax (NPAT) rose from $19 million to $63 million for the half year to December 2017.
In more good news for the company, its revenue strengthened over the 2017 half year, and lifted 75 per cent to $201 million compared to the same time last year.
Its earnings before interest and tax (EBIT) increased from a loss of $19 million to a gain of $63 million.
There were no dividends declared or paid during the half year ending December 2017.
The company says operational and production improvements over the past 3 years meant they were well positioned to benefit from increased customer demand.
Shares in Lynas (ASX:LYC) closed 0.94 per cent lower to $2.10 on Friday.