July 3 (Reuters) - Ferrexpo PLC ::APPOINTMENT OF AUDITOR.BOARD HAS APPROVED APPOINTMENT OF MHA MACINTYRE HUDSON UK MEMBER OF BAKER TILLY INTERNATIONAL, AS COMPANY'S AUDITOR.
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April 23 (Reuters) - Ferrexpo PLC ::FY REVENUE ROSE 6 PERCENT TO 1.3 BILLION USD.2019 PRODUCTION VOLUMES ARE EXPECTED TO BE IN LINE WITH 2018 AT APPROXIMATELY 10.6 MILLION TONNES..40% INCREASE IN DIVIDENDS TO 23.1 US CENTS, INCREASED CAPITAL INVESTMENT AND CONTINUED DEBT REDUCTION..PLAN TO INCREASE INVESTMENT TO BE ABLE TO HIT OUR MEDIUM-TERM PRODUCTION TARGET OF 12 MILLION TONNES PER ANNUM BY 2021.FERREXPO - IN 2019, WILL CONTINUE ITS REPAIRS AND MAINTENANCE PROGRAMME WHICH WILL INCLUDE A 75 DAY PELLET LINE SHUTDOWN IN 2H 2019.LONGER-TERM INTENTION IS TO MOVE TO ANNUAL OUTPUT OF 20 MILLION TONNES PER ANNUM.FY PRODUCTION OF PELLETS INCREASED 2% TO 10.6MT (2017: 10.4MT).FY SALES VOLUMES OF 10.2MT (2017: 10.5MT) REFLECTED 400KT INCREASE IN STOCKS DUE TO TEMPORARY LOGISTICS CONSTRAINTS.EXPECTS REDUCED SUPPLY OF GLOBAL PELLET EXPORTS IN 2019 AND 2020 FOLLOWING MAJOR SUPPLY DISRUPTIONS IN BRAZIL.FY PROFIT BEFORE TAX OF US$392M (2017: US$450M).FY REVENUE UP 6% TO US$1.3BN (2017: US$1.2BN) PRINCIPALLY REFLECTING HIGHER PELLET PREMIUMS AND FREIGHT RATES AND LOWER SALES VOLUMES.COST OF PRODUCTION IN 2019 IS EXPECTED TO INCREASE AS A RESULT OF HIGHER COMMODITY INPUT PRICES AND LOCAL INFLATION IN UKRAINE.FERREXPO- BOARD FEELS IT IS APPROPRIATE TO READJUST USE OF AVAILABLE FCF FROM DELEVERAGING TO INCLUDE BALANCED FOCUS ON DIVIDENDS, INVESTMENT PROJECTS.IN YEAR ENDED 31 DECEMBER 2018, GROUP MADE CONTRIBUTIONS TO BLOOMING LAND OF US$9.5 MILLION (2017: US$24.0 MILLION).
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April 1 (Reuters) - Ferrexpo PLC ::INDEPENDENT REVIEW UPDATE.WORK OF GROUP'S INDEPENDENT REVIEW COMMITTEE (IRC) IS ONGOING.IRC REQUIRES MORE TIME TO BE IN A POSITION TO MAKE APPROPRIATE DISCLOSURES IN 2018 FINANCIAL STATEMENTS.IRC IS LOOKING INTO DONATIONS MADE BY FERREXPO TO BLOOMING LAND CHARITY.IRC IS UNDERTAKING FURTHER WORK TO CORROBORATE ABOVE EXPLANATIONS AND EVIDENCE.AT CURRENT TIME, BOARD CANNOT GUARANTEE THAT REVIEW WILL BE COMPLETE BY PUBLICATION OF ITS FULL YEAR RESULTS, OR WILL COMPLETE FAVOURABLY.IRC HAS ALSO RECEIVED THIRD PARTY EVIDENCE TO EXPLAIN SOME OF POSSIBLE DISCREPANCIES IN APPLICATION OF FUNDS BY BLOOMING LAND.PUBLICATION OF ITS FULL YEAR RESULTS FOR FINANCIAL YEAR ENDED 31 DEC 2018 WILL BE ON OR BEFORE 25 APRIL 2019.
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March 19 (Reuters) - Ferrexpo PLC ::INDEPENDENT REVIEW UPDATE.ESTABLISHED INDEPENDENT REVIEW COMMITTEE TO CONDUCT COMPREHENSIVE INDEPENDENT REVIEW IN RELATION TO ITS CHARITABLE DONATIONS TO BLOOMING LAND.WORK OF INDEPENDENT REVIEW REMAINS ONGOING, AND INDEPENDENT REVIEW COMMITTEE IS WORKING WITH ITS ADVISERS IN UK AND UKRAINE, INCLUDING BDO.PRELIMINARY WORK OF BDO HAS IDENTIFIED A NUMBER OF DISCREPANCIES ON APPLICATION OF FUNDS BY BLOOMING LAND AND ITS SUB-FUNDS.GROUP HAS DECIDED TO DELAY PUBLICATION OF ITS FY 2018 RESULTS.INTENDS TO ANNOUNCE ITS FY 2018 RESULTS ON OR BEFORE 3 APRIL 2019.REVIEW FINDING INDICATES FUNDS BY BLOOMING LAND MAY NOT ALL HAVE BEEN USED FOR THEIR STATED PURPOSE.
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Feb 4 (Reuters) - Ferrexpo PLC ::COPY BANK STATEMENTS FROM BLOOMING LAND RECEIVED BY CO'S AUDITORS CONTAINED AS YET UNEXPLAINED DISCREPANCIES.BOARD DECIDED TO CONDUCT COMPREHENSIVE INDEPENDENT REVIEW AND IS IN PROCESS OF SCOPING WORK OF COPY BANK STATEMENTS FROM BLOOMING LAND.BLOOMING LAND IS A UKRAINIAN CHARITY WHICH WAS ESTABLISHED WITH PRIMARY FUNCTION OF CO-ORDINATING GROUP'S CSR PROGRAMME.DONATED US$9.5 MILLION TO BLOOMING LAND IN 1H 2018; HAS NOT MADE ANY FURTHER DONATIONS TO BLOOMING LAND SINCE MAY 2018.INTENDS TO ANNOUNCE ITS FY 2018 RESULTS AS PLANNED ON 20 MARCH 2019.FERREXPO EXPECTS FULL YEAR 2018 EBITDA TO BE APPROXIMATELY US$500 MILLION (SUBJECT TO AUDIT).
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Jan 8 (Reuters) - Ferrexpo PLC ::FERREXPO PLC - 4Q 2018 TOTAL PELLET PRODUCTION UP 7.2% VERSUS. 3Q 2018 TO 2.9MT (3Q 2018: 2.7MT)..FERREXPO PLC - 2018 TOTAL PELLET PRODUCTION UP 1.6% VERSUS 2017 TO 10.6MT (2017: 10.4MT).FERREXPO PLC - TOTAL 2019 PELLET PRODUCTION IS EXPECTED TO BE IN LINE WITH 2018 AT 10.6MT AS A RESULT OF ONGOING MAINTENANCE.FERREXPO PLC - 2018 SALES VOLUMES WILL BE APPROXIMATELY 10.2 MT (2017 SALES VOLUMES: 10.5MT).FERREXPO PLC - SALES VOLUMES WERE IMPACTED BY REDUCED BARGE SHIPMENTS GIVEN LOW WATER LEVELS ON DANUBE RIVER IN 2H 2018.FERREXPO PLC - GROUP EXPECTS THESE SALES VOLUMES TO BE CAUGHT UP IN 1H 2019..FERREXPO PLC - TOTAL PELLETS PRODUCED IN Q4 2.85 MILLION TONS VERSUS 2.66 MILLION TONS IN Q3.FERREXPO PLC - FULL YEAR AVERAGE 2018 CASH COST OF PRODUCTION IS EXPECTED TO BE APPROXIMATELY US$44 PER TONNE COMPARED TO US$33 PER TONNE IN 2017.FERREXPO PLC - GROUP'S AVERAGE RECEIVED PRICE WAS APPROXIMATELY 9% HIGHER IN 2018 COMPARED TO 2017.
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Dec 6 (Reuters) - Ferrexpo PLC ::FERREXPO HAS CONTINUED TO TRADE AS EXPECTED IN SECOND HALF OF 2018.PELLET PREMIUMS HAVE REMAINED AT HIGH LEVELS OF 1H 2018.GROUP BELIEVES SEABORNE PELLET DEMAND WILL BE STRONG IN 2019 WHILE SUPPLY IS EXPECTED TO REMAIN CONSTRAINED.HAS DECLARED A SPECIAL INTERIM DIVIDEND OF 6.6 US CENTS OR US$40 MILLION.
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Oct 9 (Reuters) - Ferrexpo PLC ::Q3 2018 TOTAL PELLET PRODUCTION UP 6% COMPARED TO Q2 2018.HIGHER Q3 PRODUCTION REFLECTS SUCCESSFUL COMPLETION OF PELLET LINE REFURBISHMENT IN 2Q 2018.9M 2018 TOTAL PELLET PRODUCTION UP 1.3% COMPARED TO 9M 2017.
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Aug 9 (Reuters) - Ferrexpo Plc ::HAS INCREASED ITS 2017 PRE-EXPORT FINANCE CREDIT FACILITY FROM US$195 MILLION TO US$400 MILLION.EXTENDED TENOR OF PRE-EXPORT FINANCE CREDIT FACILITY FROM THREE TO FOUR YEARS.CREDIT FACILITY IS A REVOLVING COMMITTED FACILITY AND HAS A ONE YEAR GRACE PERIOD BEFORE QUARTERLY AMORTISATIONS COMMENCE.COST OF FACILITY REMAINS 450 BASIS POINTS ABOVE US LIBOR.
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Aug 2 (Reuters) - Ferrexpo PLC ::H1 REVENUE ROSE 4.4 PERCENT TO 617 MILLION USD.INTERIM DIVIDEND 0.033 USDPER SHARE.HY REVENUE $617 MILLION VERSUS $591 MILLION.SAYS HY TOTAL PELLET PRODUCTION 5,096KT VERSUS 5,160KT.HY PROFIT FOR PERIOD AFTER SPECIAL ITEMS $152 MILLION VERSUS $216 MILLION.SAYS HY DILUTED EPS AFTER SPECIAL ITEMS 25.79 CENTS."DEMAND FOR HIGH QUALITY IRON ORE, ESPECIALLY PELLET, IS EXPECTED TO REMAIN STRONG THROUGH 2H 2018 AND 2019".FERREXPO - GROUP'S PRODUCTION RATE IS EXPECTED TO INCREASE IN 2H 2018, WITH IMPROVEMENT EXPECTED ONCE FINAL PELLET LINE HAS BEEN REFURBISHED IN 2H 2019.FERREXPO - HAS COMPLETED INVESTMENT TO EXPAND PELLET FEED PRODUCTION BY 2020, WHICH WILL ALLOW TO INCREASE PRODUCTION BY ABOUT 1.5 MILLION TONNES TO 12 MILLION TONNES P.A.
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