Azomures net profit up four-fold in H1

The chemical fertilizers producer Azomures Targu Mures reported a 68.853-million-lei net profit in H1, 2010, four times higher compared to the 2009 net profit, which amounted to 16.825 million lei.

According to the financial data sent to the Bucharest Stock Exchange, Azomures registered total revenues amounting to 547.256 million lei, by 79.62 higher than the same period of time last year, and expenditure worth 468.952 million lei (plus 63 percent), in the first half of the year. The chemical fertilizers producer’s net turnover reached 541.033 million lei by end-June, marking a rise by 65.63 percent.

The companies’ amounts payable stood at 99.815 million lei (326.648 million lei in the first half of 2009), while the amounts receivable totalled 171.039 million lei (76.564 million lei in 2009). The company’s main shareholders are SC Eurofert Investements LLC New Castle USA – 55.97 percent of shares, other shareholders – 24.97 percent and Azomures Holdings LLc Wilmington USA – 19.05 percent.

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