UralChem boost Net Profit to $257 million for 1H 2008
Published: 23 October, 2008, 12:50
Russian fertilizer producer UralChem has boosted Net Profit for 1H 2008 to $257 million under IFRS.
The bottom line figure is up 17 times from the $15 million Net Profit posted over the same period 2007. EBITDA for the half came in at $450 million, up from $39 million, on the back of Revenues of $1.02 Billion, up from $184 million a year earlier. UralChem CEO, Dmitry Osipov attributed the strong results to the acquisition of two new plants – Azot and Voskresensk Mineral Fertilizers – the modernisation of existing facilities, and strong fertilizer prices – particularly in key export markets, Europe and the United States.
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