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26 Feb

Fortescue's profit rises amid higher iron ore prices

Australian iron ore producer Fortescue Metals has reported higher profit in its financial first half ended 31 December, 2023 (FY24), underpinned by improved iron ore prices, Kallanish notes. The firm says in a statement that its net profit for first half rose 41% year-on-year to $3.3 billion. Its revenue for first half also grew 21% y-o-y to $9.5 billion due to higher iron ore prices. The firm's iron ore shipments for the first half, however, slipped 2% y…
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