CAPITAL MARKETS

Iron ore price dents FMG profit

FORTESCUE Metals Group’s half-year profit has slumped by 81% to $US331 million ($A426.7 million) due to the near-halving of the iron ore price.

Kristie Batten
Iron ore price dents FMG profit

Revenue fell 17% to $4.8 billion and underlying earnings before interest, tax, depreciation and amortisation slumped 55% to $1.4 billion. A 52% jump in shipments to 82.7 million tonnes and a 9% reduction...

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