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FMG sees profits soar on record shipments

Fortescue Metals Group has reported a record net profit after tax of US$10.3 billion, up 117% on FY20 and representing a return on equity of 66%.

Kristie Batten
FMG sees profits soar on record shipments

The result was driven by record shipments of 182.2 million tonnes at average revenue of $135.32 per tonne, up 72%. Underlying EBITDA almost doubled to $16.4 billion with the underlying EBITDA margin...

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