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AAP

Business

Marion Rae

Fortescue FY aided by record shipments

Fortescue Fortescue Metals Group

Fortescue Metals Group has posted a sharply lower full-year profit despite record shipments as iron ore prices retreated.

Net profit after tax was down 40 per cent at $A9.0 billion for the year to June 30, 2022, as earnings fell.

Shares in Australia's third-biggest iron ore miner fell 2.1 per cent or 42 cents to $A19.45 in morning trade on Monday.

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