Iluka's Revenue Boosts by 75.7pc

The full year revenue of Iluka Resources (ILU) has spiked up by 75.7 per cent to $1.536 billion compared to its previous year, the mineral sands producer reported today. This was recorded after its revenue for the three months to December rose by 53 per cent to $434 million.

"Iluka is well positioned from an operational, balance sheet and margin position to continue to respond appropriately to market conditions for its products by flexing production, sales and inventory," according to the group's statement.

The total production of the mineral sands producer for the full year also increased by 10 per cent to 1.63 million tonnes. It sold 1.61 million tonnes for the whole year, which is 10.6 per cent higher than its sales in 2010.

However, Iluka said that it is expecting a decline in the sales and production of zircon for this year due to high prices but added that high prices and contracted volumes of titanium dioxide will balance the situation.

Shares of Iluka fell 1.89 per cent to $16.5 at 1205 AEDT.