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Ferrexpo FY21 Earnings Rise

Ferrexpo Plc (FXPO.L), a Swiss iron ore pellet producer, on Friday posted a rise in earnings for the fiscal 2021, reflecting a rise revenue.

For the fiscal 2021, the Baar-headquartered firm reported a profit of $870.99 million or 147.9 cents per share, compared with $635.29 million or 107.9 cents per share, reported for the year 2020.

Ferrexpo also reported a rise in its pre-tax income at $1.07 billion as against $747.86 million, on year-on-year basis.

Owing to a rise in demand for the company's products and services, Ferrexpo recorded its operating income at $1.07 billion versus, $748.66 million, reported for the previous fiscal.

For the 12-month period, the Group's underlying EBITDA recorded at $1.43 billion, compared with $859 million, reported a year ago.

Ferrexpo also said that in view of Russia's invasion of Ukraine, it has decided to defer any decision in relation to an interim dividend in conjunction with the Group's full year results for 2021.

It also clarified that the Board will "continue to assess the situation in Ukraine, and when appropriate, will make a decision in relation to shareholder returns."

The company's revenue for the fiscal was registered at $2.51 billion as against $1.70 billion, on-year-on-year basis.

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