UralChem First-Quarter Profit Doubles as Fertilizer Output Grows

UralChem Holding Plc, a Russian fertilizer maker, said first-quarter profit doubled as its acquisition of OAO Perm Mineral Fertilizers boosted output.

Net income rose to $352 million from $173 million a year earlier, UralChem said in a report posted yesterday on its website. Sales climbed 19 percent to $673 million.

The company agreed to buy Perm Mineral Fertilizers in December, acquiring a 51 percent stake from Sibur Group in a bid to increase urea and ammonia production amid rising prices.

Net debt was $1.08 billion as of March 31, UralChem said.

To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net

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