Iluka reduces net debt from $183m-$34m

Company News

by Anna Napoli

Iluka Resources (ASX:ILU) has announced its revenue from zircon, rutile and synthetic rutile lifted 21 per cent to $607 million in the first half of 2018, despite 3 per cent lower sales volume.

The company says positive mineral sands market conditions contributed to realization of strong price increases.

Iluka also reduced its net debt to $34 million from $183 million at the end of last year.

The company says the results reflect strong free cash flow in the first half of $226 million and a payment of $69 million for the 2017 final dividend.

Shares in Iluka Resources (ASX:ILU) closed 1.59 per cent lower at $11.11 yesterday

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.