KWALE TITANIUM GENERATES KSH. 1.71 BILLION PROFIT
Base Resources Kwale Titanium, (the mother company of Base Titanium Ltd) announced a full-year profit of 1.71 billion or USD$21 million for the period ending June 30.
According to the company representatives, this good performance was due to increased sale volumes, cost-reduction measures and increase in prices of minerals.
Amortization, earnings before tax and interest rose by 81% to AU$109.7 million from a lower figure of AU$60.6 million the year before. This is the highest it has achieved since the first export of minerals from Base Titanium were made in Feb 2014. Base Titanium Limited Sales ilmenite, rutile and zircon minerals.
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