Australia's Grange Resources eyes best day in near 12 years on profit surge

Grange Resources

26/02/2021 03:47

** Shares of iron ore miner and pellet producer Grange
Resources  GRR.AX  rise as much as 34.1% to A$0.59, heading for
their best session since May 4, 2009
    ** Co reports FY profit attributable of A$204.2 mln ($160.46
mln) vs A$77.7 mln last year, helped by surging prices for its
iron ore pellets  urn:newsml:reuters.com:*:nFWN2KV23P
    ** FY revenues from ordinary activities up 43% to A$526.3
mln
    ** Declares final dividend of 2 Australian cents per share
    ** Stock hits highest since April 5, 2012
    ** About 11.3 mln shares change hands vs 30-day average of
about 1.8 mln shares
    ** Stock has risen 49.2% so far this year, as of last close
    



($1 = 1.2726 Australian dollars)

 (Reporting by Riya Sharma in Bengaluru)
 ((Riya.Sharma@thomsonreuters.com;))