21st Sep 2026 14:34
(Alliance News) - Iofina PLC on Monday said it anticipates "record" crystalline iodine production this year, as it reported a jump in interim profit and revenue, while cost of sales reduced.
Iofina shares rose 9.8% to 56.00 pence each on Monday afternoon in London.
The London-based iodine producer said pretax profit surged 41% to USD4.9 million in the first half of 2026, from USD3.5 million a year prior.
The company emphasised that operating profit more than doubled to USD4.9 million from USD1.8 million.
Revenue climbed 7.4% to USD31.3 million from USD29.2 million, as Iofina highlighted "sustained strong demand" as well as iodine production growth. Further, continuing "firm" iodine prices led to revenue growth.
The company produced 393.3 metric tonnes of crystalline iodine during the first half of 2026, up 29% from 305.5 metric tonnes a year prior. It beat Iofina's own upward revised target of 385 metric tonnes.
Notably, cost of sales came down 7.5% to USD21.1 million from USD22.8 million.
Chief Executive Officer Tom Becker said: "The group is strategically placed and is fulfilling its targeted business plan by executing aggressive expansionary initiatives, utilising its strong cash generation and favourable banking facilities to invest for growth.
"The group expects record crystalline iodine production in 2026. IO#12, which is expected to come online imminently, is anticipated to add 170-220MT of crystalline iodine on an annualised basis. That, combined with both IO#13 and IO#14 being contracted to be operational by the end of H1 2027, demonstrates that Iofina is rapidly moving towards its objective of hitting 2000 metric tonnes per annum."
By Tom Budszus, Alliance News slot editor
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