Iron ore heavyweight Fortescue Metals Group (ASX: FMG) has reported a 53% gain on its net profit after tax to US$1.5 billion for the 2012 financial year, a record result driven by substantially increased production volumes.
The company’s record shipments of 55.8 million tonnes marked a 41% increase on last year’s result.
Fortescue will return to shareholders a fully franked dividend of A$0.04 per share, taking the total dividends declared for 2012 to $0.08 fully franked.
EBITDA grew by 14% to $3.03 billion, while cash flow from operating activities was $2.8 billion.
The increase in EBITDA was generated through revenue growth of 23% to US$6.7 billion from strong production volumes.
The company is advancing expansion programs across mine, port and rail to deliver 155 million tonnes per annum run rate by the end of June 2013.
Fortescue shares were up 1.81% to $4.225 on the news at 3.24pm (AEST).
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