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Iofina plc ( (GB:IOF) ) has issued an announcement.
Iofina plc reported a 9% increase in revenue to a record $54.5 million for the year ending December 2024, driven by higher sales of iodine derivatives and increased iodine production. Despite challenges such as renegotiation of brine water supply contracts and logistical delays, the company achieved a 13% increase in iodine production and maintained strong cash flow, enabling continued investment in growth initiatives, including the construction of new iodine plants. The company anticipates strong demand and stable iodine prices in 2025, supporting profitable sales and further expansion.
More about Iofina plc
Iofina plc is a vertically integrated company specializing in the production of iodine and the manufacturing of specialty chemical products. It is the second largest producer of iodine in North America and operates through its entities, Iofina Resources and Iofina Chemical, focusing on iodine extraction and halogen specialty chemicals.
Average Trading Volume: 300,190
Technical Sentiment Signal: Buy
Current Market Cap: £43.17M
Learn more about IOF stock on TipRanks’ Stock Analysis page.