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Iofina sales rise to record in Q1, but H1 output to fall short of guidance
StockMarketWire.com
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Iofina said sales of iodine and specialty chemicals rose to a record in the first quarter of the year, but the iodine maker said first-half production would fall short of guidance following weaker quarterly output.
The company is likely to achieve H1 production of approximately 250MT, below the 285-305 MT forecast, the company said.
The company produced 108.2 MT of crystalline iodine, down from 129.7 MT last year, largely due to 'abnormal extreme weather for two weeks in February,' the company said.
With weather related production issues now resolved, Iofina is working with its brine suppliers to maximize supply to its IOsorb plants, it added.
At 8:58am: (LON:IOF) Iofina PLC share price was 0p at 14p
Story provided by StockMarketWire.com
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