No tax for us, says fortified Fortescue
Feb 20, 2013 (Menafn - The Age - ABIX via COMTEX) --Iron ore producer Fortescue Metals Group has posted a 2012-13 interim net profit decline to US478m, with revenue also down from US3.35bn to US3.3bn despite all-time high output. The reason are falling commodity prices, and on 20 February 2013 the stock closed A0.26 lower at A4.92. CFO Stephen Pearce noted that the minerals resource rent tax would not result in any tax liability for Fortescue, due to the way it has been structured by the Australian Government.
Publication Date: 21 February 2013
FORTESCUE METALS GROUP LIMITED - ASX FMG
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