Fortescue Profit Jumps Threefold as Cost Cuts Boost Margins

  • Market outlook positive in FY 2017 on China demand: CEO
  • Biggest iron ore producers’ cost cuts to grind lower: analyst

Fortescue Full-Year Net Profit Jumps Threefold

Fortescue Metals Group Ltd., the world’s fourth-biggest iron ore exporter, reported full-year profit rose more than threefold to beat analysts’ estimates as costs fell and margins increased.

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