Fertiglobe's profit surges amid higher demand for products
Fertiglobe, the world’s largest seaborne exporter of urea and ammonia, reported an increase of more than eightfold in its fourth-quarter profit as revenue jumped on the back of higher demand for its products.
Net profit attributable to owners of the company for the three-month period to the end of December rose to $366.5 million, from $45.1m in the same period a year earlier, the company said in a statement to the Abu Dhabi Securities Exchange, where its shares are traded.
Revenue during the period more than doubled to $1.18 billion.
“Fertiglobe delivered a solid set of results in fourth-quarter of 2021, further underpinning our exciting growth potential,” said chief executive Ahmed El-Hoshy.
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