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EuroChem reports lower earnings on higher sales, continues with potash projects

2:29 AM MST | February 6, 2014 | Natasha Alperowicz

EuroChem (Moscow), Russia’s largest producer of fertilizers, on Wednesday reported a 67% decline in fourth-quarter net profit to 2.6 billion Russian ruble ($80 million) on 5% higher sales of RR43.9 billion. Full-year net profit saw a decline of 62% to RR12.3 billion on 6% higher revenues of RR176.9 billion. Full-year fertilizer sales volumes for nitrogen and phosphate fertilizers, excluding sales of mining co-products, increased by 8% to 10.6 million m.t. compared with 2012.   “Despite the growth in fertilizer demand falling short of market...

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