Iluka Resources has reported net profit after tax of $369 million for the half year to June 30, up 186% on the previous corresponding period (pcp).
The company said the strong results were due to higher prices for its mineral sands products - brought on by a scarcity of global supply and Russia?s invasion of Ukraine.
?In a macroeconomic environment characterised by inflation and uncertainty, we increased margins and strengthened our balance sheet. This was the result of strong demand for Iluka?s products, industry supply constraints and resultant pricing traction?, said Managing Director Tom O?Leary.
Iluka declared an interim dividend of 25? a share, more than double the 12? a share dividend paid in the pcp.
The company?s share price rose 7.51% following the announcement.