Ukraine's Ferrexpo H1 profit up 32 pct on weaker currency, lower costs

miércoles 6 de agosto de 2014 02:21 GYT

LONDON Aug 6 (Reuters) - Ukrainian iron ore miner Ferrexpo posted a 32-percent rise in half year core profit, helped by a weaker Ukrainian currency and lower production costs which more than offset softer iron ore prices.

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) of $321 million also topped a consensus forecast of about $250 million, according to Thomson Reuters I/B/E/S.

Majority owned by Ukrainian billionaire and parliamentarian Kostyantin Zhevago, Ferrexpo said to date its operations have not been directly impacted by fighting in the east of Ukraine.

Ferrexpo shares are down by about 30 percent this year, hit by weaker iron ore prices and concerns about the political crisis between Ukraine and Russia. (Reporting by Silvia Antonioli; editing by Jason Neely)