Uralchem Q1 net profit up 750 pct to $161 mln

Russian fertilizer maker Uralchem posted a 750 percent year on year increase in its January-March 2011 net profit to $161 million to IFRS, the company said on Wednesday.

The company’s first quarter revenue increased 74 percent to $566 million, the company said in a statement.

Uralchem’s operating profit rose 310 percent to $160 million, while adjusted EBITDA increased 180 percent to $186 million.

The company’s net debt amounted to $1.227 billion as of March 31, 2011.

Uralchem’s export sales almost doubled in the first quarter of 2011 to $411 million, with exports accounting for over 75 percent of total sales.

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