Iron ore miner Ferrexpo PLC (FXPO.LN) Tuesday reported a 75.8% decrease in its full year net profit due to lower prices for iron ore, but said it is "well placed to capitalize on any growth opportunities" as the 2010 outlook is positive.

The U.K.-listed, Swiss-registered miner with operations in Ukraine reported net profit attributable to equity shareholders for the year ended Dec. 31 of $70.6 million, compared with $292.4 million in 2008. A Dow Jones Newswires poll of three analysts had predicted net profit of $63.0 million.

Ferrexpo's sales for the period were $648.7 million from $1.12 billion the previous year, above analysts' expectations of $611.7 million.

Earnings before interest, taxes, depreciation and amortization, or Ebitda, for the period was 72.6% lower at $138.1 million, compared with $503.9 million in 2008, slightly below analysts' expectations of $140.1 million.

The company said its net debt as of Dec. 31 stood at $257.7 million.

-By Alexander Kolyandr, Dow Jones Newswires; +7 495 232 9192; Alexander.Kolyandr@dowjones.com

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