Fantastic results9 Aug 2016 21:21
2016 Interim
Just look at the results no wonder we are up
Michael Abrahams, Non-Executive Chairman, said:
"We are pleased to report a good set of financial results given the challenging circumstances in the iron ore industry. We have improved the quality of our pellet output, increased sales volumes to record levels and significantly reduced our cost base. Cash generated from operating activities was US$142 million for the period (up 61% compared to the first half of 2015) which allowed the Group to repay US$120 million of debt amortisation in the first half of 2016.
The Group continues to control costs and to benefit from selling a premium product to the world's top steel mills. Pellet demand remains strong and Ferrexpo believes it is well placed to continue to improve in all cycle