Graphite flake producer Syrah Resources reports heavy 2019 loss on oversupply

By Jon Stibbs, Sybil Pan
Published: Tuesday, 31 March 2020

Australian graphite producer Syrah Resources reported a heavy annual loss owing to lower year-on-year electric vehicle sales growth in China during the second half of the year and an increase in the supply of battery raw material.

Syrah reported a net loss after income tax of $130.5 million in the 12 months ended December 31, 2019, compared with a loss of $29 million in 2018, according to the company’s annual financial report released on Tuesday March 31.

Annual revenue for the year ended last December...

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