LONDON (dpa-AFX) - Ferrexpo plc (FXPO.L), an iron ore pellet producer, Wednesday reported profit before tax of $75.67 million for the first half, 104 percent higher than $35.45 million in the same period a year ago, driven by 64 percent growth in revenue.
Operating profit increased to $98.85 million from $33.61 million last year.
Net profit was $55.49 million or 9.26 cents per share, up from $27.01 million or 4.54 cents per share a year ago.
Revenue for the period grew 64 percent to $548.54 million from $334.01 million in the previous year.
Total commercial production for the first six months increased by 75 percent to 3.7 million tonnes, comprising 3.3 million tonnes of pellets and 0.4 million tonnes of commercial concentrate.
The company did not declare an interim dividend citing the ongoing risks associated with operating in Ukraine currently.
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2024 AFX News
