Fortescue Half Year Result: Improved iron ore prices deliver earnings jump

22 Feb 2024

 

 

Higher realised iron ore prices and cost discipline have been factors that have led Fortescue Limited (FMG) to a 21 per cent increase in H1 FY24 revenue to US$9.5 billion, while underlying EBITDA of US$5.9 billion was 36 per cent higher. Net profit after tax (NPAT) of US$3.3 billion increased by 41 per cent compared to the same period last year. A fully franked interim dividend declared of A$1.08 per share is 44 per cent higher than the FY23 interim dividend and represents a payout of 65 per cent of H1 FY24 NPAT.

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