Iluka announces net loss but rise in earnings

Company News

by Anna Napoli

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

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.