Swiss-headquartered iron ore miner Ferrexpo, whose main interests are in Ukrainian iron ore assets, has announced its financial results for the first half of the current year.
In the given period, Ferrexpo recorded a net profit of $216 million compared to a net profit of $78 million recorded in the same period of the previous year. Sales revenues of the company totaled $591 million, up 29 percent year on year. The company's sales volumes decreased by 10 percent to 5.06 million mt, while its EBITDA amounted to $287 million, increasing by 79 percent, both compared to the first half of 2016.
Ferrexpo expects demand for high quality iron ore, especially pellets, to remain strong through the second half of this year.