Iluka Resources Ltd
(ASX:ILU) has reported a 51 per cent increase in revenues in its first quarter of the 2011 financial year, on the back of rising demand for its products.
In the first three months of 2011 the mineral sands producer reported revenues of $226 million, compared with $149 million the year before.
Iluka says Australian zircon and rutile production volumes in the quarter met or exceeded internal expectations.
Zircon production was 135.5 thousand tonnes in the first quarter. Iulka is targeting 500 thousand tonnes for the full year.
Rutile production in the quarter was 63 thousand tonnes. Illuka is targeting 250 thousand tonnes in the full year.
Iluka Resources swung to a full year profit of $36.1 million in the 2010 calendar year, from a loss of $82.4 million the year before.
