Fortescue's profit up threefold, beats analysts' estimates
Add BT as a preferred sourceMelbourne
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 million a year earlier, the best performer this year among Australia's 100 largest companies said in a statement on Monday. That beat the US$910 million average of 10 analysts' estimates compiled by Bloomberg.
TRENDING NOW
Singtel Q1 gain drops 71% to S$818 million in absence of Airtel stake sale; weaker Singapore business
Sembcorp raises interim dividend despite 72% H1 profit slide to S$150 million on Alinta deal costs
How BYD disrupted Singapore’s car market – and why the strategy is turning on itself
CDL H1 profit jumps three times to S$301 million on strong condo sales, doubles interim dividend
