May 8, 2012

China XLX Fertiliser's Q1 net revenue surges to US$8.4 million

China XLX Fertiliser said its net income attributable to owners of the parent rocketed 149.4% on-year to RMB52.9 million (US$8.4 million) for the three months ended March 31, 2012.

The revenue was RMB994 million (US$157..83 million), an increase of 17.3% from a year earlier, mainly due to the increase in average selling prices for urea, methanol and compound fertiliser and sales volume for methanol and compound fertiliser.

Overall gross profit margin increased from 10% in the first quarter last year to 14% in the same period this year due to the increase in gross profit margins of urea and methanol.