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Acron Jumps Most 2 Weeks as Fertilizer Demand Boosts Profit

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June 27 (Bloomberg) -- OAO Acron jumped the most in almost two weeks after posting a 34 percent first-quarter net income gain from a year earlier as increased demand for food supplies boosted the Russian fertilizer producer’s sales.

The stock rose 1.5 percent to 1,147.50 rubles by the close in Moscow, the biggest advance since June 15. The shares have dropped 7.4 percent in the quarter.

Profit in the first quarter jumped to 5.123 billion rubles ($169 million), according to an e-mailed company statement. Revenue rose 33 percent from a year earlier, climbing to 18.422 billion rubles, the statement said.

“The world’s increasing demand for food supplies requires increased output from fertilizer producers,” Chairman Alexander Popov said in the statement.

To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net; Ksenia Galouchko in Moscow at kgalouchko1@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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