Reporting Wrap: Iluka Resources (ASX: ILU), Mt Gibson Iron (ASX: MGX), and Brambles (ASX: BXB)

2 min read | August 21, 2024 10:13 AM AEST | By Team Kalkine Media

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Reporting Wrap: Iluka Resources (ASX: ILU), Mt Gibson Iron (ASX: MGX), and Brambles (ASX: BXB) — Image source: shutterstock

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Highlights:

Iluka Resources (ASX:ILU): Iluka has provided an update on its mineral sands operations, highlighting recent production figures and market trends. The company continues to focus on expanding its resource base and enhancing operational efficiency.

Mt Gibson Iron (ASX:MGX): Mt Gibson Iron has reported its latest financial results, including updates on iron ore production and sales. The company remains committed to optimizing its mining operations and navigating market fluctuations to drive growth.

Brambles (ASX:BXB): Brambles has released its financial performance report, detailing key metrics and strategic initiatives. The company is focused on strengthening its supply chain solutions and expanding its global footprint in the logistics sector.

Several companies have reported their financial results today, highlighting a mix of outcomes across different sectors.

Iluka Resources Ltd (ASX:ILU) announced a first-half profit of $134 million for FY2024, marking a 34% decline from the $204 million reported in the same period last year. The company attributed this drop to weaker performance in the construction and real estate sectors, which impacted the titanium and zircon markets. Despite the profit decrease, Iluka declared an interim fully franked dividend of 4 cents per share (cps), a 33% increase from the 3 cps reported in the prior comparable period.

Mount Gibson Iron (ASX:MGX) reported a strong performance driven by operations at Koolan Island, with net profit rising 24% to $6.4 million, up from $5.2 million in FY2023. The company also achieved a 36% increase in sales of high-grade iron ore, totaling 4.1 million wet metric tonnes at a grade of 65.3% Fe. This translated into a revenue surge to $667.7 million Free on Board (FOB), compared to $450.6 million FOB in the previous fiscal year. However, the company did not declare a dividend for the fiscal year ending June 30.

Brambles Ltd (ASX:BXB) reported a 17% increase in underlying profit for FY2024, reaching US$1,262.2 million. Sales revenue also saw a 7% rise to US$6,545.4 million. Brambles declared a total dividend of 34.00 cps, with a final dividend of 19 US cents per share, reflecting a dividend yield of around 3%.

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