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Fortress Minerals reports 37% rise in 1Q20 earnings to US$1.1 mil as it records inaugural sales

PC Lee
PC Lee7/10/2019 07:47 AM GMT+08  • 3 min read
Fortress Minerals reports 37% rise in 1Q20 earnings to US$1.1 mil as it records inaugural sales
SINGAPORE (July 9): Fortress Minerals, the producer and exporter of high-grade iron ore concentrate from Malaysia, reported 1Q20 earnings increased 37% to US$1.1 million ($1.5 million) from 1Q19 a year ago.
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SINGAPORE (July 9): Fortress Minerals, the producer and exporter of high-grade iron ore concentrate from Malaysia, reported 1Q20 earnings increased 37% to US$1.1 million ($1.5 million) from 1Q19 a year ago.

Earnings per share and net asset value per share for 1Q20 was 0.23 US cents and 5.05 US cents respectively.

Excluding US$0.9 million IPO expenses and unrealised foreign exchange loss of US$0.2 million, 1Q20 net profit came in at US$2.3 million.

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