(Alliance News) - Iron pellets maker Ferrexpo PLC on Tuesday reported a 7% rise in first quarter pellet output and said that production was not impacted by coronavirus outbreak.
The FTSE 250-listed company produced 2.7 million tonnes of iron ore pellets in the quarter to March-end, up from 2.5 million tonnes a year ago. Production of 65% iron pellets was up 9% to 2.7 million tonnes.
Sales for the quarter are expected to be around 2.8 million tonnes versus 2.6 million tonnes a year ago.
Ferrexpo, which has operations in Ukraine, said it is continuing to take actions to workforce and local communities against the spread of the coronavirus.
Shares in the company were up 11% on Tuesday morning at 134.90 pence each.
By Tapan Panchal; tapanpanchal@alliancenews.com
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Ferrexpo (FXPO)