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Fortress Minerals Limited ( (SG:OAJ) ) has issued an update.
Fortress Minerals Limited reported a 503.3% year-on-year surge in net profit after tax to US$4.5 million for the third quarter of FY2026, driven by a 41.4% rise in revenue to US$18.4 million as sales volumes climbed 43.8% to 199,698 dry metric tonnes. The miner benefited from economies of scale, lifting gross profit by 66.4% to US$12.1 million and expanding gross margin to 65.7%, even as average realised selling prices dipped slightly; management highlighted that its dual-pronged growth strategy of diversifying and boosting production capacity to meet ongoing offtake commitments is supporting performance and positioning the company to capture sustained regional iron ore demand.
More about Fortress Minerals Limited
Fortress Minerals Limited is a Singapore-headquartered producer and exporter of high-grade iron ore concentrate from Malaysia, supplying both local and regional markets. The Group focuses on serving resilient regional demand for iron ore through a strategy of diversification and enhanced production capabilities, underpinned by offtake agreements with customers.
Average Trading Volume: 71,882
Technical Sentiment Signal: Buy
Current Market Cap: S$128.2M
Find detailed analytics on OAJ stock on TipRanks’ Stock Analysis page.