Menu
Menu
Iluka Resources' 9-month revenue falls 50%

Iluka Resources' 9-month revenue falls 50%

Mineral sands producer Iluka Resources (ASX:ILU) said its revenue for the first nine months of the year had fallen over 50% as a result of the global economic crisis.

The company recorded revenue after currency hedging of $300.4 million for the year-to-date ending in September, compared to $611.4 million from the corresponding period last year.

But Iluka said it saw signs of improvement in Q3, with revenue growing 30% quarter-on-quarter to $151.1 million.

Because a disproportionate amount of Iluka’s sales take place in Q4, the company remains hopeful it can still reach its full-year sales targets, so long as the economy enters a period of sustained recovery.

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

Join the newsletter!

Error: Please check your email address.

Tags Iluka Resourcesfinancial resultsmining

More about Iluka Resources

Show Comments

Market Place