Business
H1 2018 Update
H1 2018 Update.
About this update from Iofina Plc
[{"type":"text","content":"\n \nRNS Number : 6670U Iofina PLC 16 July 2018 \n\n \n16 July 2018\n \nIofina plc\n(\"Iofina\", the \"Group\", or the \"Company\")\n(LSE AIM: IOF)\n \nH1 2018 Update\nLike-for-like production up 10%; IO#7 contributing to increased production\n \nIofina, specialists in the exploration and production of iodine and halogen-based specialty chemical derivatives, today provides an update to the market regarding its activities during the first half of 2018.\n \nAs expected, the Company produced a total of 264.1 metric tonnes (\"MT\") of crystalline iodine from its four IOsorb® plants operating in Oklahoma. This was an increase of 10.8 per cent from the prior year (H1 2017 235.5 MT). During the first half of the year, Iofina successfully opened IO#7 which is now a major contributor to the total iodine production of the Group. With our four operating plants, we anticipate a total of 575-605 MT of IOflo® iodine for the entire year in 2018, which would be a significant increase in output compared to last year (FY 2017: 503 MT). \n \nIodine prices have risen steadily throughout H1 2018 and Iofina expects prices to continue to rise progressively in the second half of the year as iodine prices continue to lag below historical levels.\n \nIofina Chemical has continued to invest in its operations and take on new halogen based products. The first half of 2018 saw a substantial increase in some of Iofina's non-iodine based products.\n \nCommenting, President and CEO Dr. Tom Becker, stated: \n\"After a slow start to the year, iodine production has now picked up and is performing well. With IO#7 fully contributing to the Group, we are poised for a strong second half of the year.\n \n\"The Directors are committed to growth through expansion of iodine production at Iofina Resources, and ongoing product development at Iofina Chemical. This growth, coupled with increasing iodine prices, will add to the positive progress we have seen in the first half of 2018\"\n \nEnquiries:\n \nIofina plc\nDr. Tom Becker, CEO & President\nTel: +44 (0)20 3006 3135\n \nfinnCap Ltd\nChristopher Raggett/Giles Rolls/Camille Gochez\nTel: +44 (0)20 7220 0500\n \nMedia Contact:\nYellow Jersey \nCharles Goodwin/Harriet Jackson\nTel: +44 (0)7544 275 882\n&nb...