Iofina (IOF)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

22.40p
   
  • Change Today:
      0.050p
  • 52 Week High: 31.60
  • 52 Week Low: 12.20
  • Currency: UK Pounds
  • Shares Issued: 191.86m
  • Volume: 242,869
  • Market Cap: £42.98m

Iofina expects record production after strong third quarter

By Duncan Ferris

Date: Monday 14 Oct 2019

LONDON (ShareCast) - (Sharecast News) - Iofina on Monday said it expects to beat second half iodine production targets thanks to strong third quarter operations at its four IOsorb plants in Oklahoma.

During the three month period ended 30 September, the AIM traded company produced 167.3 metric tonnes (MT) of crystalline iodine, leading it to expect record second half production levels that will exceed its target range of 305-325MT.

Product sales from Iofina's specialty chemicals business remained robust and in line with expectations, while margins benefited from the iodine spot price having increased amid tight global supplies.

With the spot price having generally been above $32 per kilogram at the end of the third quarter, Iofina said it expected further price increases in the remaining months of 2019.

Meanwhile, construction a new IOsorb plant, known as IO#8, has commenced and is on track to last between six and seven months before contributing to first half production in 2020.

President and chief executive Tom Becker said: "Importantly, we are continuing to execute on our stated strategy of increasing production capacity, through the construction of IO#8, and expanding our specialty chemical business, all of which is putting Iofina in a stronger position for 2020 and beyond."

Iofina shares were up 4.02% at 25.22p at 1016 BST.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Iofina Market Data

Currency UK Pounds
Share Price 22.40p
Change Today 0.050p
% Change 0.22 %
52 Week High 31.60
52 Week Low 12.20
Volume 242,869
Shares Issued 191.86m
Market Cap £42.98m

Iofina Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
69.89% below the market average69.89% below the market average69.89% below the market average69.89% below the market average69.89% below the market average
80.65% below the sector average80.65% below the sector average80.65% below the sector average80.65% below the sector average80.65% below the sector average
Price Trend
51.18% above the market average51.18% above the market average51.18% above the market average51.18% above the market average51.18% above the market average
84.16% above the sector average84.16% above the sector average84.16% above the sector average84.16% above the sector average84.16% above the sector average
Income Not Available
Growth
9.07% below the market average9.07% below the market average9.07% below the market average9.07% below the market average9.07% below the market average
54.1% below the sector average54.1% below the sector average54.1% below the sector average54.1% below the sector average54.1% below the sector average

Iofina Dividends

No dividends found

Trades for 20-Feb-2020

Time Volume / Share Price
16:17 4,000 @ 21.95p
15:34 6,000 @ 21.95p
14:49 5,459 @ 21.90p
14:49 5,776 @ 22.00p
14:13 48,224 @ 21.98p

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