KIEV, Aug. 3 - Ukraine’s second-largest producer of iron ore, Ferrexpo, said Wednesday its profits rose 111.3% on the year to $293.9 million in the first half of 2011, reflecting strong global demand.

Ferrexpo’s revenue rose 62.6% on the year to $854.8 million in the same period, up from $525.8 million in H1 2010, the company reported in a statement.

Michael Abrahams, Ferrexpo’s non-executive chairman, said the “very strong” financial results were supported by continued growth in demand with global iron ore prices remaining at “high levels.”