Australia's Fortescue posts 53% drop in first-half profit

Reuters

2025/02/20

Feb 20 (Reuters) - Australia's Fortescue FMG.AX reported a 53% drop in its first-half profit on Thursday, hurt by weak iron ore prices as China's property sector continues to struggle.

The world's fourth-largest iron ore miner said underlying attributable net profit after tax was $1.55 billion for the six months ended December 31, compared with $3.34 billion reported a year ago.

(Reporting by Roshan Thomas and Sherin Sunny in Bengaluru; Editing by Anil D'Silva)

((Sherin.Sunny@thomsonreuters.com;))

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