Fortress Minerals Limited, a high-grade iron ore producer from Malaysia, reported a significant 78.4% year-on-year increase in net profit, reaching US$3.5m for the second quarter of FY2027. This growth was bolstered by a 22.3% rise in revenue to US$20.2m, attributed to higher sales volumes and stronger average realised selling prices.
The company’s gross profit surged by 38.2% to US$12.5m, with the gross profit margin expanding by 7.1 percentage points to 62.0%. This improvement was largely due to enhanced cost efficiency and increased sales of high-grade iron ore. The average realised selling price rose by 8.5% to US$93.69 per dry metric tonne, reflecting the company’s strategic focus on high-value products.
Fortress Minerals’ EBITDA also saw a substantial increase of 71.3% to US$7.2m. The company continues to focus on improving production capabilities and diversifying its mineral base to ensure long-term sustainable growth. Executive Director and CEO, Dato’ Sri Ivan Chee, stated, “Our continued improvement in profitability reflects resilient demand and the benefits of our operational excellence and cost discipline.”
Looking ahead, the company remains committed to enhancing its mining and processing capabilities whilst exploring new investment opportunities, such as its increased stake in Norwest Minerals. Despite mixed global steel market conditions, Fortress Minerals is poised to leverage its strong domestic and regional demand to drive future growth.
