12 December 2007 16:39 [Source: ICIS news]
LONDON (ICIS news)--Uralkali’s profits and sales are expected to rise as increased demand for crops lifts the need for fertilizers Citigroup analysts said in a report released to the media on Wednesday.
“A growing global population, a need for increased crop yields, changing dietary trends in ?xml:namespace>
This will increase demand for the global potash producer, which already intends to grow production by 12% until 2010 through debottlenecks at current plants, it said.
Through BPC, its 50/50 joint venture with Belaruskali, Uralkali controls 34% of the global market for exported potash while its joint venture Canpotex controls another 23% of the market, the report added.
Citigroup estimates that Uralkali’s earning before interest and tax in 2009 will be nearly double its estimated EBIT in 2007 at $849m (€577m) while estimated net sales are expected to increase 54% to $1.7bn.
Uralkali shares were trading up -3.81% at $28.95 on Wednesday. Citigroup has a target share price of $36.00.
($1 = €0.68)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections