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Fortescue's profit up threefold, beats analysts' estimates

Tuesday, August 23, 2016 - 05:50

Melbourne

FORTESCUE Metals Group Ltd, the world's fourth biggest iron ore exporter, reported that full-year profit rose more than threefold to beat analysts' estimates as costs fell and margins increased.

Net income was US$984 million in the year ended June 30, compared with US$316

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