International Ferro Metals rises on reduced losses

International Ferro Metals has managed to stem losses at its operations in the North West Province of South Africa.

The company has reported production of ferrochrome down 15% in the final six months of 2011 compared to the same period of 2010. Sales fell 3% over the prior year.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

The net loss after taxation dropped from ZAR107,000 in 2010 to ZAR92,000.

The firm says it expects to be "cash generative" by the end of the March.

By 11:31am International Ferro Metals' stock had gained 3.7%.

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.