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FMG profits soar 630%

HIGHER iron ore prices and increased demand have seen revenue, underlying earnings, cash flow and profit more than double for Fortescue Metals Group, allowing the Pilbara producer to approve an $US8.4 billion ($A8.3 billion) investment and declare a maiden dividend.

Kristie Batten
FMG profits soar 630%

For the December 2010 half-year, underlying earnings before interest, tax, depreciation and amortisation jumped 246% to a record $US1.31 billion on total revenue of $2.53 billion. The average selling...

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