MOSCOW, August 3 (RIA Novosti)
Russian fertilizer maker Uralchem posted a first half net profit of $444 million to IFRS, up 67 percent year-on-year, the company said in a statement on Friday.
The company's revenue increased 22 percent in January-June 2012 to $1.261 billion, with adjusted EBITDA up 37 percent in the same period to $462 million.
Uralchem's output rose 18 percent year-on-year to three million tons. Sales of urea and ammonia skyrocketed by 117 percent and 61 percent respectively due to acquisition of Perm-based Mineral Fertilizers.
"We achieved good financial results in the first half of this year compared to the same period in 2011," Uralchem CEO Dmitry Konyayev said. "The good performance was driven by the situation on the urea and ammonium nitrate markets, which was favorable for us, as well as acquisition of [Mineral Fertilizers firm] and our own efforts aimed at improving the efficiency of enterprises."
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