Australian iron ore miner Fortescue Metals Group has announced its financial results for the first half ended December 31 of the financial year 2014-15.
During the given period, Fortescue's net profit amounted to US$331 million, declining 80.8 percent compared to the corresponding period of the previous financial year. The company's sales revenue amounted to US$4.85 billion, down 17.3 percent year on year, reflecting a 53 percent increase in shipments to 82.7 million mt offset by a decrease in iron ore market prices. Fortescue's EBITDA decreased by 55.3 percent year on year to US$1.44 billion in the first half of the given financial year.
Fortescue maintains its shipping guidance of 155 to 160 million mt for the full financial year 2014-15.