(MENAFN) Net profit of Pilbara iron ore miner Fortescue Metals Group (FMG) has grew significantly to reach USD1.7 billion after tax as the expansion of iron ore operations boosted tones shipped by 51 percent, according to QNA
Chief executive officer Nev Power said: "The ongoing strong demand for our products has allowed us to accelerate debt repayment, de-risk the balance sheet and increase returns to our shareholders.
Earnings before interest, tax, depreciation and amortisation (EBITDA) boosted 184 percent to reach USD3.2 billion off revenue of USD5.87 billion
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