Fortescue Metals Group has posted a sharply lower full-year profit despite record shipments as iron ore prices retreated.
Net profit after tax was down 40 per cent at $A9.0 billion for the year to June 30, 2022, as earnings fell.
Shares in Australia's third-biggest iron ore miner fell 2.1 per cent or 42 cents to $A19.45 in morning trade on Monday.
