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Ferrexpo posts 34% yoy increase in revenue in 1Q

Ferrexpo posts 34% yoy increase in revenue in 1Q

1 July 2010

Ferrexpo (LSE: FXPO LN) disclosed its 1Q10 financial results in a release yesterday, posting revenue of USD 188.9 mln (up 34% yoy), EBITDA of USD 46.0 mln (up 30% yoy) and profit before tax of USD 16.1 mln (down 34% yoy). Ferrexpo said it expects iron ore pellet prices to remain well above 2009 levels for the remainder of 2010, as demand has recovered from 2009 lows. The company said it has already secured or expects to secure significant DAF/FOB price increases on contracts in line with international pricing on all of its production.

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