|
Ferrexpo PLC on Friday posted a higher annual pretax profit, boosted by a growth in production volumes through investments in high grade production.
Pretax profit in 2021 climbed 43% to $1.07 billion from $747.9 million the year before. Revenue rose by 48% to $2.52 billion from $1.70 billion, the iron ore pellet producer reported.
Total dividends paid for 2021 amounted to 46.2 US cents, down 46% from 85.8 cents for 2020.
Ferrexpo said it will consider whether to propose a further interim dividend in respect to 2021.
The Baar, Switzerland-headquartered firm said: ‘The board will continue to assess the situation in Ukraine, and when appropriate, will make a decision in relation to shareholder returns.’
‘The near-term outlook for the iron ore fines market and prices in 2022 will depend on the level of activity seen in China in early 2022, following production cuts imposed in 2021,’ the firm added.
The company has over 10,000 workers in Ukraine and predicts significant uncertainty in the near term outlook due to the war.
Chair Lucio Genovese added: ‘The financial results for the full year 2021 that we present here to you today reflect a very different time, in a period that pre-dates the invasion.’
Ferrexpo shares were 5.2% higher at 184.00 pence each in London on Friday morning.
Copyright 2022 Alliance News Limited. All Rights Reserved.
|
