Fortescue first-half profit soars

Miner unveils huge uptick in H1 profit on expanded operational capacity, improved product strategy and capex reductions.

Fortescue Metals Group (FMG) has unveiled a significantly stronger first-half profit as the miner reaps the benefits of expanded operational capacity, improved product strategy and continued focus on reducing costs, notably capital expenditure.

In the six months to December 31, Fortescue posted a net profit of $US1.714 billion, a 259% increase on the $US478 million recorded in previous corresponding period.

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