02
Dec
03:41
Atlas Iron earnings slump on lower prices
Australian iron ore producer Atlas Iron, a subsidiary of Australian mining group Hancock Prospecting, saw its net profit slump in the financial year ended 30 June, 2022 (FY22), as lower iron ore prices and higher freight costs suppressed margins, Kallanish notes.
The group’s net profit plunged 67.8% to AUD 302 million ($205.7m) in FY22 from AUD 938m a year ago.
Its revenue also decreased by 22.37% to AUD 1.32 billion from AUD 1.7 billion.
Atlas neverthe…
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Anonymous
Very good overview of the weekly steel market.
Anonymous