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Lynas Rare Earths’s fourth quarter revenue falls 47%

Lynas Rare Earths Ltd on Monday posted a sharp 47 per cent 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)

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