SYDNEY, Feb. 22 (Xinhua) -- Australian mining and metals giant Fortescue Metals Group posted a robust half yearly report on Wednesday, with their net profit after tax coming in at 1.2 billion U.S. dollars, a massive 283 percent increase on last year's result.
Revenues were also up for the miner, with the company recording 4.492 billion dollars coming in, handily beating last year's total by 34 percent.
Fortescue reported a net debt of 3.396 billion dollars, but that was somewhat allayed by their cash on hand position of 1.160 billion dollar, along with the 1.7 billion dollars of debt repayments they made throughout the calendar year.
The results were good news for the miner, and continued the sentiment of their chief executive Nev Power who told Xinhua in February that his company was in "good shape" and that Fortescue had been implementing strategies to improve their financial position, particularly in Asia.
"We have been focused on improving the productivity and efficiency of our business." Power said.
Fortescue will pay an interim dividend of 20 Australian cents (15.38 U.S. cents) per share to investors.
