Stricken iron ore miner Ferrexpo has revealed it remained heavily loss-making after an “exceptionally difficult” start to the year just days after securing investor backing for a 100 million US dollar (£76 million) emergency fundraising.
The group reported pre-tax losses of 11 million dollars (£8.3 million) for the six months to June 30, down from mammoth losses of 186.9 million dollars (£141.3 million) a year earlier, but saw its revenues more than halve to 196.4 million dollars (£148.5 million).
