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(Sharecast News) - Ukraine-focussed iron ore company Ferrexpo said on Wednesday that both sales and production volumes had increased in the first half of the trading year despite "unprecedented" global disruption.
Pellet production and sales were up 5% and 22% in the six months ended 30 June, respectively.
However, revenues were down 1.4% at $776m and underlying earnings slipped 5.38% year-on-year to $352m as a result of lower pellet premiums throughout the period. Pre-tax profits dropped 7.41% to $250m.
Ferrexpo highlighted that the global pellet market had faced reduced demand in the first half due to lower steel production in most regions but noted that this had been partly offset by "significantly lower" pellet supply from Brazil.
On the back of its "resilient financial performance" and "strengthened balance sheet", Ferrexpo also declared an interim dividend of 6.6 cents per share - in addition to the dividend declared by the group in June.
Ferrexpo did caution that the recovery of steel markets in Europe and Japan would "be slower than in China" but expects the level of demand from Chinese steel producers to remain at the level seen in the first half.
As of 0845 BST, Ferrexpo shares were up 7.22% at 194.60p.
16 May 2024 15:46
UK shareholder meetings calendar - next 7 days
| Friday 17 May | |
| Bank of Cyprus Holdings PLC | AGM |
| Central Asia Metals PLC | AGM |
| Quantum Exponential Group PLC | GM re potential substantial investment in company |
| Monday 20 May | |
| Georgia Capital PLC | AGM |
| Harworth Group PLC | AGM |
| Hilton Food Group PLC | AGM |
| Itaconix PLC | AGM |
| Malvern International PLC | AGM |
| Windward Ltd | AGM |
| Revolution Bars Group PLC | GM re fundraising |
| Tuesday 21 May | |
| Capita PLC | AGM |
| Centamin PLC | AGM |
| Coca-Cola HBC AG | AGM |
| Dowlais Group PLC | AGM |
| Empresaria Group PLC | AGM |
| Equals Group PLC | AGM |
| Fintel PLC | AGM |
| Forterra PLC | AGM |
| Gamma Communications PLC | AGM |
| GetBusy PLC | AGM |
| HydrogenOne Capital Growth PLC | AGM |
| Impact Healthcare REIT PLC | AGM |
| IWG PLC | AGM |
| JTC PLC | AGM |
| K3 Business Technology Group PLC | AGM |
| M&G Credit Income Investment Trust PLC | AGM |
| Metro Bank Holdings PLC | AGM |
| Portmeirion Group PLC | AGM |
| Riverstone Energy Ltd | AGM |
| Shell PLC | AGM |
| Sherborne Investors (Guernsey) C Ltd | AGM |
| TBC Bank Group PLC | AGM |
| Trustpilot Group PLC | AGM |
| US Solar Fund PLC | AGM |
| Wednesday 22 May | |
| 4imprint Group PLC | AGM |
| Bango PLC | AGM |
| Boku Inc | AGM |
| Empiric Student Property PLC | AGM |
| Invinity Energy Systems PLC | GM re placing of shares |
| M&G PLC | AGM |
| Mindflair PLC | GM |
| NIOX Group PLC | AGM |
| PPHE Hotel Group Ltd | AGM |
| Riverstone Credit Opportunities Income PLC | AGM |
| Spirent Communications PLC | GM re Keysight takeover offer |
| Staffline Group PLC | AGM |
| Stelrad Group PLC | AGM |
| VH Global Sustainable Energy Opportunities PLC | AGM |
| Zotefoams PLC | AGM |
| Thursday 23 May | |
| Baillie Gifford Shin Nippon PLC | AGM |
| Bakkavor Group PLC | AGM |
| Bank of Ireland Group PLC | AGM |
| Capricorn Energy PLC | AGM |
| Crossword Cybersecurity PLC | AGM |
| Deliveroo PLC | AGM |
| Energean PLC | AGM |
| Essentra PLC | AGM |
| Ferrexpo PLC | AGM |
| Headlam Group PLC | AGM |
| Hill & Smith PLC | AGM |
| Indivior PLC | GM re seeking primary US listing |
| Inspirit Energy Holdings PLC | AGM |
| Legal & General Group PLC | AGM |
| Life Science REIT PLC | AGM |
| N4 Pharma PLC | AGM |
| Norman Broadbent PLC | AGM |
| Petershill Partners PLC | AGM |
| Prudential PLC | AGM |
| Quilter PLC | AGM |
| Regional REIT Ltd | AGM |
| Resolute Mining Ltd | AGM |
| Rolls-Royce Holdings PLC | AGM |
| Sabre Insurance Group PLC | AGM |
| Shaftesbury Capital PLC | AGM |
| Spectris PLC | AGM |
| Strip Tinning Holdings PLC | AGM |
| Yu Group PLC | AGM |
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