Fortescue Full-Year Net Profit Surges 12%

Australia's Fortescue Metals FSUGY reported a 12% gain in its annual profit. Fortescue's net profit for the year rose to US$1.75 billion, versus analysts' estimates of US$1.74 billion. Fortescue declared a final dividend of 10 cents per share. Fortescue shares closed at $7.32 yesterday.