Lynas Rare Earths's fourth quarter revenue falls 47%

Ionic Rare Earths

31/07/2023 24:25

July 31 (Reuters) - Lynas Rare Earths Ltd  LYC.AX  on
Monday posted a sharp 47% drop in fourth-quarter revenue, hurt
by lower market prices for rare earth products during the
quarter.
    The world's largest producer of rare earths outside of China
said sales revenue was A$157.5 million  ($104.85 million) for
the three months ended June 30, compared with A$294.5 million a
year ago, and consensus estimate of A$216 million, according to
Barrenjoey.

    
($1 = 1.5022 Australian dollars)

 (Reporting by Ayushman Ojha and John Biju in Bengaluru; Editing
by Kim Coghill)
 ((John.Biju@thomsonreuters.com;
Ayushman.Ojha@thomsonreuters.com))