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Portman flags increased 2004 profit

PORTMAN has recorded a full year net profit of $16.9 million and has flagged a significantly increased profit in 2004 based on strong demand, foreign exchange protection and additional production from both its operations.

Michael Quinn
Portman flags increased 2004 profit

Portman recently won an 18.6% increase in iron ore prices for the year beginning April 1, and has around 88% of forecast US dollar revenues in 2004 hedged at a weighted average of 63.2%. "We delivered...

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