Fortescue has released its full year profit results today and they are again very conservative. Profits jumped 56% to $2.7billion in 2014, as production costs fell with capex and volumes soared. That was slightly behind estimates.
Stephen Pearce, CFO, said he will repay another $500m of the firm’s debt in October, continuing the campaign to lower leverage which has already seen the redemption of $3.1 billion in debt ahead of schedule.
