Atlas December 2011 Half Yearly Report and Accounts
Sydney, Feb 28, 2012 AEST (ABN Newswire) - Atlas Iron Limited (
ASX:AGO) is pleased to announce it had a record first half year for the six months ended 31 December 2011.
Total Iron Ore Shipments (WMT) Up 64.4% To 2.85Mt. Sales Revenue Up 69.2% To $341.4M. Gross Profit Up 104.1% To $142.3M. Underlying Profit1 Up 77.5% To $62.2M.
"This is an outstanding result which highlights the robust margins and cash-generating strengths of our assets," Managing Director Ken Brinsden said. "We are particularly happy that cash costs for the half are at the lower end of guidance."
"Our strong cashflows are enabling us to invest in further increases in production capacity, which will see output double to 12Mtpa by June 2013, targeting 15Mtpa in 2015 and 46Mtpa by 20172."
Atlas expects cash costs for FY2012 to remain within guidance of $43 to $45 per tonne and remains on target to ship approximately 5.5 to 5.7Mt (wet) for FY2012.
The Company's current policy is to pay dividends at year end. For production and other operational details relating to the period under review, Atlas refers readers to its December 2011 Quarterly report dated 25 January 2012.
For the Full Half Year Report, Please visit:
http://media.abnnewswire.net/media/en/docs/ASX-AGO-579694.pdf
About Atlas Iron Limited
Atlas Iron Limited (ASX:AGO) is an independent Australian iron ore company, mining and exporting Direct Shipping Ore (DSO) from its operations in the Northern Pilbara region of Western Australia. Since listing on the ASX in late 2004, Atlas has grown rapidly and is now a member of the ASX100 index.
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