Fertilizer maker Azomures swings to net profit of New Lei 20.6m

17 November 2010 11:50  [Source: ICIS news]

PRAGUE (ICIS)--Azomures swung to a third-quarter net profit of Romania New Lei (New Lei) 20.6m ($6.5m, €4.8m) from a net loss of New Lei 10.6m in the same period last year, the Romania-based fertilizer producer said on Wednesday.

Higher fertilizer prices and improved demand also contributed to a 68% year-on-year improvement in turnover to New Lei 333.4m, Azomures said.

Operating profit stood at New Lei 43m, compared with an operating loss of New Lei 9.8m in the third quarter of 2009, Azomures said.

Azomures produces ammonium nitrate (AN), calcium ammonium nitrate (CAN), urea, complex nitrogen phosphorous potassium (NPK) fertilizers and melamine.

The company is 55% owned by Turkey’s Transworld Fertilizers Holding.

($1 = New Lei 3.18, €1 = New Lei 4.29)

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By: Will Conroy
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