Iluka Resources

Mineral sands mining company, Iluka Resources (ASX:ILU) have announced its full year profit results to shareholders.

• Iluka Resources Net Profit for the full year was $363.2 million, down from 2011 where profit was $541.8 million.
• Iluka revenue was $1.2 billion, down from $1.6 billion.

Mineral sands miner, Iluka Resources (ASX:ILU) have released their 1H First Half year financial results for FY 2012 to the ASX stockmarket.

• Iluka Resources 1H Net profit $274.4 million, up 88.1 per cent on the previous corresponding period - $145.9 million. (1H includes first 6 months to June)
• Revenue from ordinary activities up 15.4 percent to $711 million.

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.

Mineral sands producer Iluka Resources (ILU) has reached an agreement with its customers to sell supplies of rutile and synthetic rutile for higher prices in the first six months of 2012. Iluka made this agreement with its buyers from the pigment, titanium sponge and welding markets.

Iluka Resources (ASX:ILU) shares rose 8 percent on top of a deal announcement that will boost second-half prices by 70 to 75 percent. The agreement with high grade titanium dioxide customers involved delivery of rutile and synthetic rutile products in the second half of this year.

Iluka Resources (ASX:ILU) chief executive David Robb says that product supply will be problematic in the coming years, with deficit in some cases.

"We don't give price forecasts, (but) we do think that supply is a problem, and all of our markets are very tight, arguably deficit in some cases," said Robb on Sunday. "There is simply not enough supply, and customers have idle plants.

"We don't see an answer to that for some years.

Australian mining company Iluka Resources (ASX:ILU) reported a 51 percent sales revenue increase for the first quarter of this year. It's equivalent to $226.3 million against $149.4 million in the same period of 2010. Good production performance in South Australia and Victoria coupled with demand from Chinese market especially after the February Spring Festival prompted the boost.

Iluka Resources (ASX:ILU), a mineral sands miner, have reported a total of $229 million, before hedging, for the first six months of 2010 compared to $124 million for the same period last year. Sales have increased by $183 million compared to the same six month period in 2009. Mineral sands sales revenue (before hedging) was $378.4 million, up 94% from the first six months of 2009 ($195.2 million).

ABC Learning was the overall best performing stock - taking in a 57.53 percent increase in their share price this week. It was a mixture of learning services, energy, support services, and mining companies who were among the best performing stocks for the week 26 of 2008 of the Australian sharemarket: ABC Learning (ABS), Paladin Energy (PDN), Brambles (BXB), Iluka Resources (ILU). These best performing stocks managed gains above 15.32 percent by the end of the trading week.