West Perth-based iron ore company Mt Gibson Iron Ltd has announced a net profit of $23.5 million for the year ended June 30 2006, a 74 per cent increase on the previous year's net profit of $13.5 million.

West Perth-based iron ore company Mt Gibson Iron Ltd has announced a net profit of $23.5 million for the year ended June 30 2006, a 74 per cent increase on the previous year's net profit of $13.5 million.