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Mineral Resources Provides Profit Guidance of FY17

29 Jun 2017  |  16:04:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Profit Guidance

Mineral Resources announced a revision to its expected earnings for the financial year ending 30 June 2017 (FY17). In February 2017, following the release of the half yearly results, MRL provided a guidance update to the market for the expected FY17 full year results. That guidance was an EBITDA range of $480m - $520m and was based upon the stated specific assumptions as to iron ore pricing and tonnages for the second half of the year. The Board has determined that a revised guidance range of $460m - $480m is appropriate for FY17. The spread of the range at this late time in the financial year is to accommodate the volatility of iron ore prices as seen by the 10% increase over the past 48 hours.

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