Iofina (LSE:IOF) shares jumped, gaining 16.9% to 38.0p, after the company reported full-year results and upgraded H1 2026 production guidance.
Crystalline iodine production increased by 109MT (17%) to 743MT (2024: 634.1MT) and crystalline iodine sales rose 42% to $35m (2024: $24.7m), while iodine derivatives sales were $17.8m, up 5% (2024: $16.9m).
Gross profit was $18m (2024: $13.2m), operating profit $8.7m (2024: $5m) and profit before tax $8.4m (2024: $4.8m), with the average realised iodine price up 8% to $74.02/kg. The Group ended the year with cash of $11.7m (2024: $6.9m) and net cash increased to $5.2m from $2.9m a year earlier.
Capital investment for new iodine plants and chemical processes was $8.4m (2024: $9.5m), and the Group has signed for a larger IOsorb® plant in the Permian Basin that is expected to be operational in Q3 2026.
Iofina reported a strong start to 2026 with Q1 crystalline iodine production of 178.9MT (Q1 2025: 124.1MT) and upgraded H1 2026 production guidance to around 385MT from a previous 325-355MT range.
"The company has a clear short-term pathway to exceed 1,000MT of annual production and, in the forthcoming years, grow beyond 2,000MT through the development of larger-scale plants," said Dr Tom Becker.
