Mineral sands producer Iluka Resources Limited (ASX:ILU) has recorded a 53 per cent rise in revenue for the last quarter of 2011.
Quarterly revenue from mineral sands sales came in at $434 million in the three months to the end of December compared with $283 million the year before.
Over 2011, also the company’s financial year, production grew 10 per cent to 1.63 million tonnes, significantly exceeding its initial estimates.
Illuka Resources has advised higher prices for zircon at the end of 2011 should offset an expected fall in production and sales levels this year.
Iluka Resources was the S&P/ASX 200’s second best performing stock last year, its share price climbing 68 per cent over the 2011 calendar year.
In the first half of the 2011 financial year Iluka Resources recorded a net profit of $146 million.
