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

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.