"Fosagro" increases export earnings.
Edited by Rhod Mackenzie / 2015-08-20 05:51:41
Finance Oil and Gas Russia Financial results Mineral Fertilizers Fertilizers Phosagro (Fosagro) Shares Russia Oil and Gas Gas Oil
In H1 the financial results of the company rose sharply.
In H1 the net profit of "Fosagro" more than tripled to 27.7 billion roubles,revenues and EBITDA sharply increased. The company attributed this growth not only to the weakening of the rouble, but also to the growth of its operating performance, including the increased production of phosphorus products by 12%.
In H1 the net profit of "Fosagro" increased by 3.4 times to 27.7 billion roubles, according to the report under IFRS. The revenue increased by 65% to 93.7 billion roubles, the EBITDA – by 156% to 41.5 billion roubles. The company stated revenue growth was due to favourable market conditions and a significant weakening of the rouble.
