Support The Moscow Times!

Uralkali Profit Up 6%

Uralkali, the world's second-largest potash producer by capacity, on Tuesday reported a 6 percent increase in first-half net profit year on year, which beat forecasts thanks to rising potash prices.

Uralkali, controlled by businessman Suleiman Kerimov, said net profit rose to $842 million for the period of January through June. A poll of analysts had expected the company's net income to come in at $827 million.

Revenue was $2.23 billion, up 13 percent and outperforming a forecast of $2.08 billion, while EBITDA rose 33 percent to $1.40 billion, outperforming a forecast of $1.33 billion.

The company's EBITDA margin reached a half-year record of 74 percent, Uralkali said.

(Reuters)

Related articles:

Read more

We need your help now more than ever.

Independent media outlets and journalists in Russia are being increasingly targeted with “foreign agent” and “undesirable” labels, threatening the existence of the free press day by day.

Your donation to The Moscow Times directly supports the last independent English-language news source within Russia.