Fortress Minerals has reported a net profit of US$4.49 million ($5.77 million) for the 3QFY2026 ended Dec 31, 2025, a surge from the US$0.7 mil net profit reported in the same period a year ago.
For the 9MFY2026, net profit grew 17.6% y-o-y to US$8.927 million.
The group’s revenue for 3MFY2026 came in 41.4% y-o-y higher at US$18.38 million, and grew 32.7% y-o-y for 9MFY2026 to US$50.81 million.
Fortress Mineral’s sales volume grew 43.8% y-o-y to 199,698 dry metric tonnes (DMT) for 3QFY2026. This was driven by higher local and export sales as well as offtake agreements secured in 2QFY2026.
The increase in sales volume was partially offset by the lower average realised selling price, which was 1.9% lower y-o-y at US$92.09/DMT for 3QFY2026 due to the weaker average benchmark IODEX CFR North China of Platts Daily Iron Ore Assessments price indices.
The group’s ebitda increased by 142.7% y-o-y to US$7.5 million and earnings per share was 0.85 US cents for 3QFY2026.
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Fortress Minerals notes that the World Steel Association projects global steel demand to be broadly flat in 2025, and demand to rise by 1.3% in 2026. Steel demand in developing economies excluding China is forecast to increase 3.4% in 2025 and 4.7% in 2026.
Against this backdrop, demand for the group’s high-grade iron ore concentrate, being the base element of steel, is expected to remain well-supported by ongoing infrastructure activity and industrialisation across regional markets, alongside the steel value chain’s continued focus on productivity and decarbonisation.
Fortress Mineral is working towards the completion of the integrated processing facility in FY2027 following the completion of a new crushing plant in 1QFY2026 at the Bukit Besi mine.
Shares in Fortress Minerals closed 0.5 cents higher or 2.041% up at 25 cents on Jan 8.
