Mining company Kenmare Resources said its revenues for 2012 rose to $234.6m from $167.5m the previous year.
Kenmore said its profits after tax increased from $23.7m in 2011 to $49.5m by the end of December.
It said the markets for its products were strong for much of the year, despite a slowdown towards the end of the year.
The company said it was able to sell more than it produced in 2012 at significantly higher prices than in 2011.
The company mines titanium dioxide in the form of mineral sands, mainly ilmenite and zircon. These are mainly used in the manufacture of paints and ceramics.
The company is currently expanding its Moma mine in Mozambique, which should see production boosted by 50%.
Chairman Justin Loasby said that, in his view, 2013 is going to be a ''watershed'' year for Kenmare.
He said that until now, the company has been developing and building its assts at Moma. ''With the 50% expansion coming on stream, we are now that point where we can concentrate on operating the assets to achieve a sustainable return on the investment which has gone into their development,'' he explained.
Kenmare's chairman said that while the latter part of last year saw difficult conditions emerge in the market for its products, there are two main reason for his confidence in the company's outlook.
''First, the nature of commodity markets such as ours is that re-stocking invariably follows de-stocking. Secondly, Moma is a world-class developed resource with a very long line lift and intrinsically low operating costs per tonne, two characteristics of enduring success in the global mining industry,'' Mr Loasby added.