The Perth-based company posted an operating profit after tax for the six months to June 30 of $45.6 million, a rise of $16.9 million over the first half of calendar 1999.
The company said it is reaping the rewards of extensive restructuring and efficiency improvements in its mining and processing operations over the past 18 months.
While profit after tax rose 59%, sales revenue increased by just 11%, adjusted for the disposal of its Thalanga copper operations in Queensland.
Most of the profit increase was generated by titanium minerals and zircon operations, a reflection of the rising demand for these products, the company said.
