PhosAgro AG’s Q1 profit increased 29% year on year thanks to its production flexibility in phosphate-based fertilisers and “despite challenging market conditions in the first quarter,” the Russian phosphate miner and fertiliser producer announced today.
During the first quarter ending 31 March, profit increased to RUB 8bn ($266m) in Q1 2012, up 29% from RUB 6.2bn ($213m) earned in Q1 2011. In the meantime, nitrogen-phosphate-potassium (NPK) sales in Q1 2012 increased...