MOSCOW, August 23 (RIA Novosti) - Russia's largest mineral fertilizer producer EuroChem's first-half 2010 net profit rose 23 percent year-on-year to 6.96 billion rubles ($228 million), the company said on Monday.
Revenues grew by 24.5 percent to 45.39 billion rubles. Gross profit went up by 36.5 percent to 22.23 billion rubles, the company said.
EuroChem's second quarter net profit fell by nearly 66 percent, to 2.5 billion rubles, which was attributable to exchange rate differences resulting from the ruble's weakening against the U.S. dollar, EuroChem said.
Revenue for the second quarter grew by 38.1 percent, to 23.8 billion rubles. Gross profit for the second quarter increased by 65.3 percent, to 12.68 billion rubles, while EBITDA rose by 57 percent to 7.7 billion rubles.
The total sales volume of nitrogen and phosphate fertilizers in the second quarter grew by 12 percent, to 1.999 million tons, while iron ore sales volume increased by 9.6 percent to 1.6 million tons, the firm said.
