Ferrexpo doubles net profit to nearly $55.5 mln in H1 2024

MOSCOW. July 31 (Interfax) - Ferrexpo plc, a mining company with its main assets in Ukraine, doubled net profit to $55.490 million in H1 2024 from $27.009 million in H1 2023, Ukrainian media reported, citing the company's report on the stock exchange.

Pre-tax profit surged 2.1-fold year-on-year to $75.671 million in the reporting period from $35.446 million the previous year.

As reported, Ferrexpo boosted production of steel pellets 1.7-fold year-on-year to about 3.297 million tonnes in January-June 2024.

Ferrexpo owns 100% of the shares in PJSC Poltava Mining and Processing Plant (GOK), 100% of the shares in Yeristovsky GOK LLC, and 99.9% of the shares in Belanovsky GOK LLC.