Fortescue Metals: Result 2012

Fortescue's ambitions haven't been dented by the falling iron ore price.

Fears of a lower iron ore price were forgotten – for a while – as Fortescue Metals released an improved full year profit. Iron ore production rose 42% to 55m tonnes per annum, generating a net profit of US$1.5bn, up 53%. From earnings per share of US$0.50, up 52%, a fully franked dividend of US$0.04 was declared (ex date 5 Sep), taking full year dividends to US$0.08.

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