Fortescue Metals managed to shrug off the impact of a decline in the spot price of iron ore which decreased its revenue by 17%, to increase profit by 212% from last year.
The miner attributes the profit to reducing capital expenditure, reduced to US$304 million from US$626 million last year, and operating costs.
- Net profit: US$985 million
(↑211.7%)
- EBIT†: US$7.1 billion
- Earnings*: 31.6¢
- Dividend*: 12¢