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PhosAgro's six-months profits slide on lower DAP prices

3:06 AM MDT | August 22, 2013 | Natasha Alperowicz

PhosAgro (Moscow) today reported a drop in six-months’ net profit to 4.8 billion Russian ruble ($154 million) compared with R10.8 billion in the first half of 2012. Revenue was up 7% at R53.7 billion. Ebitda declined 22% to R13.5 billion and Ebidta margin was 25% compared with 34% in the first half of 2012. PhosAgro sold higher fertilizer volumes, however. Phosphate fertilizer sales rose 9% to 2.3 million m.t. and nitrogen fertilizers sales were 38% higher at 659,600 m.t.   “In the first half of 2013 we increased revenue by 6.7% year-on-year...

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