Fortescue’s profit and revenue down

Company News

by Anna Napoli

Mining company Fortescue Metals Group (ASX:FMG) has reported its net profit after tax (NPAT) decreased 44 per cent to USD$681 million for the half year to December 2017.

The company’s revenue was down 18 per cent to $3.7 billion.

Fortescue’s earnings (EBITDA) fell from $2.6 billion to $1.8 billion.

The company declared an interim dividend of 11 Australian cents fully franked.

The company says costs improvements and productivity initiatives have partially offset the lower revenue.

Shares in Fortescue (ASX:FMG) trading 3.73 per cent lower to $5.16

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.