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Phosagro Net Profit Falls 56 Percent

By The Moscow Times

Net profit at Phosagro, one of the world's largest fertilizer producers, fell by 56 percent year on year to 4.8 billion rubles ($150 million) in the first quarter of 2013, Prime reported Thursday, citing the company.

Analysts had expected profits of 6.3 billion rubles.

Revenue during the six month period rose by 7 percent to 53.7 billion rubles, also slightly below expectations. EBITDA fell by 22 percent to 13.4 billion rubles.

The company's capital expenditure was 7 billion rubles, 6 percent more than in the first half of 2012. Net debt rose over the period from 26.8 billion rubles to 28.4 billion rubles.

(MT)

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