China XLX Fertilizer Q1 2012 net profit surges on strong sales

07 May 2012 06:23  [Source: ICIS news]

SINGAPORE (ICIS)--China XLX Fertilizer said over the weekend its net profit for the first quarter of 2012 more than doubled to yuan (CNY) 53m ($8.4m) from CNY21m in the previous year, backed by the strong sales of urea, methanol and fertilizers.

Its sales revenue for the first quarter was CNY994m, a rise of 17% year on year, according to the company’s statement to the Hong Kong Stock Exchange.

The producer added that its average selling prices of urea, methanol and compound fertilizers increased by 10%, 2% and 13% respectively, according to the statement.

China XLX Fertilizer, which is headquartered in Henan province, is one of the largest coal-based urea producers in China.

($1 = CNY6.29)

By: Rachel Yang

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