<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Australian mining giant Fortescue today announced a 41 per cent drop in its annual profit after a year of falling iron ore prices.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The mining and green energy company run by Australian billionaire Andrew Forrest recorded a net profit after tax of $US3.37 billion ($5.2 billion), compared with $US5.68 billion a year ago.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The figure came in slightly below market forecasts.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/australia-post-united-states-usa-parcel-suspension-donald-trump-tariff/52615197-11c5-4e00-98f0-d0f576ba7159" target="_blank"><strong><span>Australia Post suspends deliveries to the US after Trump tariffs</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Shareholders will get a 60-cent final dividend next month, bringing the complete year total to $1.10 per share.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Shaky global iron ore prices, and falling demand from China's factories and construction sector were behind the profit dip.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Executive chairman Forrest, an advocate for green hydrogen as a clean energy source, today acknowledged transforming his company into a major producer of the energy-rich fuel was challenging.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/finance/fortescue-profits-plunge-41-per-cent/52326b90-7636-4c5f-9180-37dc8092e423" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"No new industry or transformational shift has ever been linear or easy," Forrest said in a statement to the ASX today.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"We haven't always got it right, but we learn every day from advances and setbacks."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>In July, Fortescue announced it was cutting 700 jobs across its global operations amid reports it was scaling back its goals to be a major hydrogen producer.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/fortescue-job-cuts-700-redundancies/b82c25af-4976-4cee-83b6-dc1d00782e85" rel="" target="_blank" title=" Andrew Forrest's Fortescue to slash 700 jobs"><strong><span>Andrew Forrest's Fortescue to slash 700 jobs</span></strong></a><span></span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>But the company insisted its green energy and zero emissions pushes will continue.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Fortescue remains resolute in its commitment to be the world's leading green technology, energy and metals company with a laser focus on achieving Real Zero by 2030," it said in a statement.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Fortescue was founded in Western Australia in 2003 and exports more than 190 million tonnes of iron ore each year.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><a href="https://www.9news.com.au/national/how-to-follow-9news-digital/29855bb1-ad3d-4c38-bc25-3cb52af1216f" target="_blank"><strong><em><span>DOWNLOAD THE 9NEWS APP</span></em></strong></a><strong><em><span>: Stay across all the latest in breaking news, sport, politics and the weather via our news app and get notifications sent straight to your smartphone. Available on the</span></em></strong><span> </span><a href="https://apps.apple.com/au/app/9news/id1010533727" target="_blank"><strong><em><span>Apple App Store</span></em></strong></a><span> </span><strong><em><span>and</span></em></strong><span> </span><a href="https://play.google.com/store/apps/details?id=nineNewsAlerts.nine.com&amp;hl=en_AU&amp;pli=1" target="_blank"><strong><em><span>Google Play</span></em></strong></a><strong><em><span>.</span></em></strong></div></div>