Fortress Minerals Reports Steady Growth

Fortress Minerals Limited (SG:OAJ) has released an update.

Fortress Minerals has reported a marginal revenue increase of 2.6% in the fourth quarter of FY2024, reaching US$12.5 million, along with a 3.9% rise in EBITDA, amounting to US$3.8 million. Despite a decrease in sales volume, the company enjoyed higher average selling prices and robust EBITDA margins, leading to a net cash flow of US$1.2 million from operations. Additionally, the company announced a final dividend of 0.60 Singapore cents per share for FY2024 and plans to enhance production capacity by 20% with the installation of two new ball mills by the second quarter of FY2025.

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