China’s Anhui Liuguo Chemical posts 63.2% rise in 2011 net profit

26 March 2012 07:00  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Anhui Liuguo Chemical posted a year-on-year increase of 63.2% in its net profit to yuan (CNY) 133.3m ($21.2m) in 2011, boosted by high demand and strong fertilizer sales, the company said over the weekend.

Its sales revenue increased by 22.6% year on year to CNY3.35bn in 2011 compared with last year, according to a statement to the Shanghai Stock Exchange.

The company produced 1.17m tonnes of phosphatic compound fertilizer and 151,100 tonnes of ammonia in 2011, the statement said.

The company is planning to produce 1.87m tonnes of phosphatic compound fertilizer products in 2012, 59.8% more year on year from 2011.

In addition, the producer is targeting to 150,000 tonnes of ammonia output in 2012, according to the statement.

Anhui Liuguo Chemical is a fertilizer manufacturer which mainly produces monoammonium phosphate (MAP), diammonium phosphate (DAP) and compound fertilizer products.

($1 = CNY6.30)

By: Rachel Yang

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