Acron Group has released 1H18 results showing an increase of net profit by 76% yr/yr to RUB3.425 million (USD$34 million).
This improvement was due to an increase in sales (up 2%) and the average USD-RUB exchange rate (also 2%). In the reporting period, average indicative dollar prices for the Acron Group's products were on diverse trends compared with the same period in 2017. While prices for NPK fertilisers, UAN, and urea increased, ammonia and ammonium nitrate prices fell.
“Despite volatility on the global markets, Acron Group’s key financial indices are sustainably on an upward drive," said Alexander Popov, Chair of Acron’s Board of Directors. "The constant gains in production, made possible by smart investment projects over the past several years, ensure our progress and offset the negative impact of foreign markets. We are pursuing a new investment programme at our Russian facilities to maintain output growth and our competitiveness in global markets. Upgrades and new construction at Acron and Dorogobuzh are proceeding according to schedule. Underground mining is picking up stream at the Oleniy Ruchey mine, and mine shafts are being constructed at the Talitsky area”.
Read the article online at: https://www.worldfertilizer.com/special-reports/29082018/acron-groups-1h18-ifrs-net-profit-is-up-76/