Russia's Perm Mineral Fertilizer sees 34% drop in net profit

02 March 2009 10:12  [Source: ICIS news]

MOSCOW (ICIS news)--Russia’s Perm Mineral Fertilizer has reported a full-year 2008 net profit of roubles (Rb) 1.6bn ($44.7, €35.4m), a 34% year-on-year decline, the company said in a statement on Monday.

For the fourth quarter, net profit was more than three times lower year on year at Rb137m because of falling international prices, the statement said.

In 2008 the company produced 600,000 tonnes of urea, which amounted to a 7.1% year-on-year increase, the statement said. The company's ammonia output reached 483,500 tonnes, a 2.2% increase over 2007, according to the statement.

Based in the Perm region in the Urals, Perm Mineral Fertilizer is the country's major urea and ammonia producer.

($1 = Rb35.79, €1 = Rb45.21)

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By: Sergei Blagov
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