Ferrexpo plc increased capital investments to the tune of USD 42mln in H1/2017, compared to USD 24mln in the same period last year. The increase in investments corresponds to the improvement of financial liquidity profile, reads the report of Ferrexpo plc for London Stock Exchange. The revenues of the iron ore producer surged by 29% y/y to USD 591mln for the first six months in 2017. At this, the interim pretax profit grew more than twice from USD 92mln to USD 241mln in the reporting period. Interestingly, the company’s sales volumes of pellets reduced by 16% y/y to 5.1mln in the period, but the board price was significantly higher of USD 43 per ton compared to USD 21 a year before. The company will continue to invest up to USD 100mln in 2017, compared to USD 48mln in 2016 and USD 65mln in 2015. Ferrexpo aims to increase iron ore output by some more 1.5mln tons at the Ukrainian facilities. Outstandingly, Ferrexpo started to build Eristov ore mine enterprise in 2008 making about USD 400mln of investments.
Ferrexpo increases capital investments by 88% y/y to USD 45mln in H1/2017
Ferrexpo plc manages Poltava and Eristov ore mining and processing enterprises in Ukraine
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