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FMG sees profits fall in December half

Fortescue Metals Group has posted a lower half-year profit, though it was still the third-best half-year result in the company’s history.

FMG sees profits fall in December half FMG sees profits fall in December half FMG sees profits fall in December half FMG sees profits fall in December half FMG sees profits fall in December half

FMG CEO Elizabeth Gaines and chairman Andrew Forrest

December half-year net profit after tax dropped 32% to US$2.77 billion, in line with consensus estimates.

Underlying EBITDA fell 28% to $4.76 billion, while the EBITDA margin was down 18% to 59%.