Ferrexpo (GB:FXPO) has released an update.
Ferrexpo, a leading iron ore pellet producer, reported a strong first half of 2024 with marked increases in production, sales, revenue, and profits despite the challenges of the ongoing war and higher energy costs. The company’s resilience is evident in its ability to maintain its workforce, adapt operations for flexibility, and capitalize on the return of access to Ukrainian Black Sea ports. Production soared by 75% to 3.7 million tonnes, and the firm achieved a 104% increase in profit after tax to US$55 million, ending with a modest increase in net cash position.
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