Forrest’s payout tops $2bn as Fortescue’s profit rises

Original article by Nick Evans
The Australian – Page: 19 : 20-Feb-20

Fortescue Metals Group has posted a 2019-20 interim net profit of $US2.5bn ($3.7bn), which is 281 per cent higher than previously. The pure-play iron ore miner has reported underlying EBITDA of $US4.2bn and revenue of $US6.5bn for the half-year. Fortescue’s shipments totalled 88.6 million tonnes for the period, and its average realised price for the steel input was 73 per cent higher than the previous corresponding period. Shareholders will receive an interim dividend of $0.76 per share, boosting the wealth of founder Andrew Forrest.


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