Iluka Resources (ASX:ILU) NPAT drops 17% in second half
Iluka Resources (ASX:ILU) today announced its 2020 half year results for the period ended 30 June 2020.
The company achieved net profit after tax of $113 million, down 17 per cent from the previous corresponding period.
Underlying group EBITDA was down 18 per cent to $225 million.
The drop in earnings is largely attributed to the decline in mineral sands revenue. The Mineral sands revenue dropped 16.3 per cent, to $456.6 million.
The Group are happy with the result given the challenging business conditions, particularly in the zircon market.
Shares in Iluka Resources (ASX:ILU) are trading 0.26 per cent higher at $9.71.
Copyright 2020 – Finance News Network
Source: Finance News Network
