Ferrexpo delays annual results due to Russian invasion of Ukraine

Russia-focused iron ore miner Ferrexpo said it was delaying publication of annual results due to the Russian invasion of Ukraine.

The company on Monday said the conflict required “significant management attention” and was impacting preparation for the group's full year results, which had been scheduled for March 16.

“The additional time provided by this delay will allow the group to consider the full impact of these events on the accounts, and will provide more time for the group's independent auditor to carry out its own audit procedures, some of which will be impacted by the current situation in Ukraine,” Ferrexpo said.

It added that it was unable to provide a publication date for the results.

Ferrexpo said it was aware of reports of the Ukrainian railway network providing limited capacity to its freight customers, and confirmed it had sent a proportion of its production to the western border of Ukraine to customers in Europe.

“It remains unclear as to the ongoing availability of railing capacity and, if available, the quantity of pellets that the group may be able to deliver to its European customers,” Ferrexpo said.