StockMarketWire.com - Iodine maker Iofina reported that first-half profit more than doubled as demand for iodine returned amid an ongoing recovery in its customer markets.

For the six months ended 30 June 2021, pre-tax profit increased by 164% to $3.5 million year-on-year as revenue increased by 27% to $19.9 million.

The average price per kilogram achieved for sales of raw iodine was $33.45 up to 30 June 2021, compared to $35.49 for H1 2020.

'Despite H1 iodine production being impacted by extreme winter weather and lower brine supply from our oil and gas partners, importantly we have had sufficient production and reserves to take advantage of demand,' the company said..

Looking ahead, the company said H2 production was on track to meet the 260-275MT target rage.




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