Fortescue reports 23 percent profit jump on record iron ore shipments
The mining giant reported a first half profit of 1.91 billion dollars today. Higher commodity prices and record shipments drove the strong financial results.
Insights:
Fortescue Ltd has reported a 23% rise in first-half underlying net profit after tax to $1.91 billion for the six months ended December 31. This financial performance in Australia 
AU was driven by record iron ore shipments of 100.2 million metric tons and higher realised prices of approximately $90.87 per dry metric ton. The scale of these shipments and the higher prices materially affected the company's earnings and shareholder payout.
AU was driven by record iron ore shipments of 100.2 million metric tons and higher realised prices of approximately $90.87 per dry metric ton. The scale of these shipments and the higher prices materially affected the company's earnings and shareholder payout.
