IN BRIEF: Iofina Says Performance Solid Despite Virus Disruption

Iofina PLC - iodine producer - Produces 284.4 metric tonnes of crystalline iodine in the six ...

Alliance News 22 July, 2020 | 12:22PM
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Iofina PLC - iodine producer - Produces 284.4 metric tonnes of crystalline iodine in the six months to June 30, down from 286.7 metric tonnes a year ago. Plant 8 was briefly open in April for a few weeks, shut down in May, and reopened again in late June. Company is still optimising the new plant but expects the plant to run throughout the second half of 2020 and beyond. Total crystalline iodine production for second half to range between 340 metric tonnes and 360 metric tonnes. Continues to progress a debt refinancing package with a new lender. To apply for loan forgiveness for Payroll Protection Program loans totalling USD1.1 million. Expects all of the PPP loans to be forgiven in second half of 2020.

Current stock price: 13.60 pence

Year-to-date change: down 51%

By Tapan Panchal; tapanpanchal@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Iofina PLC 12.25 GBX -2.00 -

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