Base Resources Limited (ASX:BSE)(LON:BSE) delivered US$215.5 mln in revenue from its Kwale mineral sands mine in the year to June 2017, an increase of 27%.
The net profit amounted to US$21mln, a significant turnaround from the US$20.9mln loss booked in the year to June 2016.
Overall, those numbers helped cut net debt by 37% to US$128.2mln, the company said in a statement.
READ: Base Resources quarter boosted by better ilmenite and zircon prices
The company sold record amounts of ilmenite, rutile and zircon, at better prices, with underlying costs steady at an average of US$139 per tonne and Kwale remains in the first quartile of mineral sands producers.
Cash flow from operations was US$100.2mln (FY2016: US$78.6mln).