April 12, 2012

Russia's Uralkali net profit up to US$1.5 billion in 2011

Because of a merger with Silvinit, operation at maximum capacity, high potash fertiliser prices, and effective cost management, Russia's Uralkali net profit increased to US$1.527 billion in 2011 from about US$954.375 million in 2010, the company said in a statement Wednesday (Apr 11).

The figures are calculated under International Financial Reporting Standards (IFRS). Uralkali released its first IFRS report since the merger with fertiliser producer Silvinit in June 2011.