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Fortescue profit falls as lower iron-ore price hits revenue

Iron-ore major Fortescue Metals on Wednesday reported a decline in net profit after tax for the half-year ended December, as revenue for the interim period fell by 31% on the back of lower iron-ore prices.

Net profit for the six months under review declined from the $331-million in 2014 to $319-million, as revenue for the same period declined from $4.8-billion to $3.3-billion.