Uralkali posts 1H 2010 net profit of 8.4 billion roubles

Russian potash fertilizer producer Uralkali has posted a 1H 2010 net profit of 8.4 billion roubles under IFRS.

The bottom line is up 89% on the 1H 2009 net profit of 4.5 billion roubles, with Adjusted EBITDA rising 71% year on year to 12.7 billion roubles  from 7.41 billion roubles, on the back of  revenue up 97% to 27.4 billion roubles from 13.9 billion roubles in 1H 2009.

According to the report, the revenues were up due to a  113% year on year increase  in potassium chloride output to 2.4 million tons from 1.1 million tons, which resulted in upturn of its export revenues to 18.1 billion roubles from 5.5 billion roubles in 1H 2009.