Australian iron ore miner Atlas Iron Limited has announced its financial results for the first half ended on December 31 of the financial year 2016-17.
According to the results, in the given period Atlas recorded a net profit of A$18.9 million, compared to a net loss of A$114.27 million in the same period of the previous financial year. Sales revenues of Atlas in the first half increased by 33.7 percent year on year to A$498.22 million.
In the first half of the given year, Atlas shipped 8.1 million wmt of iron ore, rising by 17.4 percent year on year, on track to meet the full year guidance of 14-15 million wmt.
The company’s managing director Cliff Lawrenson stated that the second half of the year has started with challenging weather conditions, including rainfall levels around the company’s mines. However, Atlas retains its production guidance range of 14-15 million wmt for the financial year 2016-17.