Fortress Minerals Limited reported a net profit attributable to shareholders of US$4.45 million for the three months ended 30 November 2025, a 539.0 percent year-on-year (YoY) increase driven by stronger shipment volumes and lower unit production costs.

Earnings per share rose to 0.85 US cents from 0.13 US cents a year earlier. No interim dividend was declared; the group said it is conserving cash for working-capital requirements after paying a final dividend of 0.46 Singapore cents in July 2025.

Group revenue climbed 41.4 percent YoY to US$18.38 million as sales volumes grew 43.8 percent to 199,698 dry metric tonnes. The iron-ore segment, which accounts for all operating income, posted pre-tax earnings of US$5.97 million, up 196.0 percent, helped by an average unit cost of sales that fell 24.4 percent to US$28.41 per wet metric tonne.

Selling and distribution expenses nearly doubled to US$2.34 million, reflecting higher royalty and transportation charges in line with greater export activity, while other operating costs edged up 5.9 percent to US$3.80 million due to depreciation of new equipment and increased staff costs. Finance costs were broadly stable at US$0.14 million.

Looking ahead, Fortress plans to commission a new crushing plant at its Bukit Besi mine in FY2027 and is progressing with the construction of an integrated processing plant at the CASB mine to produce iron-ore, copper and pyrrhotite concentrates. The group continues to evaluate acquisitions and joint-venture opportunities to diversify into critical minerals across the region.

Management expects demand for its high-grade concentrate to remain supported by infrastructure spending in Southeast Asia despite muted steel consumption in China. The group is monitoring potential changes in Chinese steel export policies and global iron-ore pricing while exploring fund-raising options to finance development projects.