Fertiglobe's second-quarter profit surges almost fourfold on revenue boost
Fertiglobe, the world’s largest seaborne exporter of urea and ammonia, said its second-quarter net profit surged almost fourfold, as a rise in selling prices and volume of products sold boosted revenue.
Net profit attributable to owners of the company for the three-month period to the end of June climbed to $429.4 million, from $113.3m recorded a year earlier, the company said in a statement on Tuesday to the Abu Dhabi Securities Exchange, where its shares are traded.
Adjusted net profit for the April to June period surged more than 270 per cent to $438m.
Revenue in the second quarter rose 105 per cent on an annual basis to $1.47 billion, while adjusted earnings before interest, taxes, depreciation and amortisation rose 155 per cent year on year to $770m.
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