Fortescue, the world's fourth-largest iron-ore producer, reported a 41% increase in its first-half net profit to $3.34 billion due to higher iron ore prices.

Fortescue, the world's fourth-largest iron-ore producer, reported a 41% increase in its first-half net profit to $3.34 billion, driven by higher iron ore prices. The company's average price for the period was $108 per metric tonne, up from $87 a year earlier. Fortescue's shipments were 2% lower than a year ago but still the second-highest on record for a fiscal first half. The company declared an interim dividend of A$1.08 per share, up from 75 Australian cents a year ago.

February 21, 2024
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