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Published on Oct 3, 2016
Iodine
producer Iofina PLC (LON:IOF) says it's happy with its growth and a new
debt structure, which gives it a fresh US$10mln facility to expand
production.
Speaking to Proactive, Dr Thomas Becker, chief executive, said the firm had five producing plants and a chemical company.
"The iodine market is definitely growing," he said.
"Applications for iodine, including in health care, pharmaceticals, biocides, LCD screens are all in growth pattern. However, there still seems to be a little bit of excess iodine in the market."
This is still driving down the price, said Becker, but he added he doesn’t expect these depressed prices to maintain much longer.
The iodine market has been steadily growing for the last 20 years, he said, and he sees this trend continuing, which gives the group a lot of opportunities.
Last week, Iofina revealed first half revenues to end June increased to US$11.58mln, up from US$11.06mln in 2015. The company reported a US$2.18mln loss, including a US$469,263 impairment relating to the Montana water depot project.
Earnings (EBITDA) amounted to US$180,437 for the period, compared to US$1.4mln in the comparative months of 2015.
http://www.4-traders.com/IOFINA-PLC-4008452/
www.iofina.com/
#iofina RNS press release - Second Price Monitoring Extn https://t.co/Ft44feE4P0— Iofina Plc (@iofinaplc) August 17, 2016
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