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Strong $A could dampen profits: Iluka

ILUKA Resources could be a victim of the strong Australian dollar, with the company advising shareholders at its annual general meeting that earnings could fall below its previous guidance of $90-100 million for calendar 2007 as a result of the company’s exposure to currency movements.

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Strong $A could dampen profits: Iluka

Chairman Ian Mckenzie said at the company's AGM that Iluka's sensitivity to currency movements was $8 million for each 1c movement in the Australian dollar relative to the US dollar. "On a year-to-date...

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