Ferrexpo’s 2012 Profit Drops More Than 50 Percent

Bloomberg reported that the 2012 profit of Ferrexpo plc (LSE:FXPO), a Ukrainian iron ore producer, dropped by more than half, to $214.3 million, on lower Asian demand. The company has recommended a dividend of 3.3 cents/share and a special dividend of 6.6 cents/share.

As quoted in the market news:

The first special dividend we paid reflects the progress in the business” in the past five years, Chief Financial Officer Chris Mawe said in a telephone interview. “We brought Yeristovo on board and are now producing from our second mine; that has cemented the special dividend.

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