Fortescue Reports 76% Jump In Net Profit

Fortescue Metals Group Ltd

reported a 76% surge in its full-year net profit. Fortescue's profit for the period climbed to US$1.02 billion, from US$580.9 million, in the year-ago period. Its sales revenue surged 69% to US$5.44 billion. Fortescue also announced its plans to pay shareholders a final dividend of 4 Australian cents per share. Fortescue shares dropped 7.15% to close at $30.50 yesterday.