IRC Limited (IRC, stock code 01029) alerted shareholders to a substantial widening of its net loss for the year ended 31 December 2025. Based on preliminary, unaudited management accounts, management projects a loss attributable to owners of US$125.00 million–US$135.00 million, versus the US$20.50 million loss recorded in 2024.

The primary driver is a US$153.00 million non-cash, non-recurring impairment provision against the K&S mine. The impairment reflects the appreciation of the Russian rouble, which has raised forecast operating costs when translated into US dollars.

No impairment charge was booked in 2024, underscoring the magnitude of the FY2025 provision. Management emphasized that the impairment affects earnings but not cash flow.

The figures are subject to audit review, and the final annual results are scheduled for release on 25 March 2026. Shareholders and investors are advised to exercise caution when dealing in IRC shares until the audited results are published.