28 Apr 2010 14:11

Minudobreniya ups RAS net profit 13% yoy in Q1

MOSCOW. April 28 (Interfax) - Perm-based mineral fertilizer producer OJSC Mineralniye Udobreniya, or Minudobreniya, turned Q1 net profits to Russian Accounting Standards (RAS) of 447.137 million rubles, a 12.6% year-on-year increase from 397.223 million rubles in Q1 2009 net losses, Minudobreniya said in a statement.

Coming on the heels of 12.27 million rubles in net Q4 losses, the Q1 profits were attributable to higher prices for company product both at home and abroad, the company said.

Minudobreniya mainly makes liquid synthetic ammonia and prilled carbamide. SIBUR-Minudobreniya owns 3.15% of the company's shares. It also holds the potential right to purchase another 48%. The other stock is controlled by structures in Dmitry Mazepin's URALCHEM holding.