Uralkali sales revenues jump 25% to RAS in Q1
PERM. May 13 (Interfax) - Russian potash-maker Uralkali made 12.713 billion rubles in sales revenues as calculated to Russian Accounting Standards (RAS) in the first quarter of this year, 25% more than in the same quarter of 2010, the company reported.
Rising potash fertilizer prices and increased sales were the engine for profit growth, the company said.
As reported, Uralkali made 7.535 billion rubles in Q1 RAS net profits, 110% more year-on-year.
First-quarter Uralkali financial highlights (1,000 rubles):
| Q1 2011 | Q1 2010 | |
| Sales revenue | 12 712 860 | 10 171 799 |
| Production cost | 3 439 061 | 2 974 146 |
| Gross profit | 9 273 799 | 7 197 653 |
| Sales profit | 6 410 121 | 4 684 851 |
| Pretax profit | 8 539 110 | 4 205 283 |
| Net profit | 7 534 544 | 3 604 313 |
Uralkali shipped 1.265 million tonnes of potassium chloride in the first quarter, 2% more year-on-year.
The company is now in the process of merging with fellow potash-producer OJSC Silvinit , a merger slated to wrap up before the end of Q2 this year.
