PhosAgro 9M net profit soars by 403%
Published: Wednesday, 18 November 2015
The internationally weak Russian rouble has again led to a bumper result for PhosAgro, which houses most of its cost base within the Federation. The fertiliser producer noted that its markets were weak, but said that the foreign exchange shifts should to continue offset this.
Russian fertiliser group PhosAgro OAO saw
its 9M 2015 net income rise by 403% year-on-year (y-o-y) to
Russian rouble (R) 31.6bn ($488m*), reflecting similar gains in
EBITDA** and EBITDA margins, which rose by 14 percentage points
to 44% for the period.
The company’s sales volumes for phosphate-based
products rose by...