Business
Half Yearly Report
Half Yearly Report.
About this update from Iofina Plc
[{"type":"text","content":"\n \nRNS Number : 8113O Iofina PLC 25 September 2013 \n \n\n \n \n25 September 2013\n \n \nIofina plc\n(\"Iofina\" or the \"Group\")\n(LSE AIM: IOF)\n \nInterim Results 2013\nStrongest First Half in Group history\n \nIofina, specialists in the exploration and production of iodine, with complete vertical integration into specialty chemical iodine derivatives, is pleased to announce Interim Results for the six months ended 30 June 2013 a period which has seen a continuation of the execution of Iofina's expansion strategy.\n \nThe Board expect to complete construction of IO#3, IO#4, IO#5 and IO#6 by year end. With these plants fully operational, it is estimated that the annualised production rate will be between c.700-c.1000 metric tonnes of crystallized iodine which would see Iofina become one of the lowest cost and largest iodine producers in North America, enabled by its patent protected WET® IOsorb™ technology.\n \n \nFINANCIAL HIGHLIGHTS:\n \n· Strongest first half in Group history;\n· Second consecutive period of positive EBITDA;\n· Record H1 Revenue of $11,556,468 (H1 2012: $7,667,162), a 51% increase in revenues;\n· Like-for-like losses of $124,410, nearly breakeven per share (H1 2012: net loss of $969,935 or ($0.01/share);\n· Improved cash balance at 30 June 2013 of $16,189,567 (30 June 2012: $10,388,096);\n· Successful Convertible Bond Issue of $15,000,000 in May 2013; and\n· Strong outlook for H2 revenues and profits from Iofina Resources as production from existing plants and four new plants come on line.\n \nOPERATIONAL HIGHLIGHTS:\n \n· Strong Management and expanded Operations team in place to deliver growth, including the recent appointments of George Lantz and Gary Gatchell as CEO and FD, respectively;\n· Record revenues for the Group through continued strong performance of Iofina Chemical processing both recycled iodine as well as increasingly the Group's own iodine production from Iofina Resources; \n· Multiple site contract won with one of the largest oil and gas operators in the US;\n· ...