Fortress Minerals reports lower net profit after tax for H1
Fortress Minerals reported a lower net profit after tax of $8.8 million for H1 2026, a 35.29% decrease year-on-year, despite a 28.2% increase in revenue to $42 million. The rise in revenue was attributed to higher sales volume of 190,066 dry metric tonnes, but was offset by a 2.4% decline in the average selling price to $111.83 per DMT, influenced by weaker iron ore price indices.
This is despite a higher revenue for the period.
Fortress Minerals has reported a lower net profit after tax of $8.8m (US$6.8m) for the first half of the financial year 2026, down 35.29% year on year.
However, the group’s revenue for the period was 28.2% YoY higher at $42m (US$32.4m), driven by higher sales volume, which increased to 190,066 dry metric tonnes (DMT).
This increase was offset by the lower average realised selling price, which was 2.4% lower YoY at $111.83 (US$86.32) per DMT for the second quarter of the financial year.
It was due to the weaker average benchmark IODEX CFR North China of Platts Daily Iron Ore Assessments price indices.
($1=US$0.77)
