Pilbara Minerals (ASX: PLS) reports solid increase in revenue

Pilbara Minerals Ltd (ASX: PLS) has released its FY2022 results for the period ended 30 June 2022. It reported an inaugural full year profit after tax of AU$561.8 million for the period, buoyed by remarkably robust global demand for lithium raw materials plus positive pricing conditions for spodumene concentrate, mainly in 2H FY2022.

• It shipped 361,035 dry metric tonnes of spodumene concentrate, up 28% increase from FY2021.
• Sales revenue increased from AU$175.8 million in FY2021 to ~AU$1.2 billion in FY2022.
• Cash balance at the end of FY2022 was AU$874.2 million, inclusive of AU$282.4 million of irrevocable bank letters of credit for shipments done before 30 June 2022.

At AEST 10:29 AM, PLS shares are trading at AU$3.140, down 0.946% from the previous close.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au