Lithuanian Subsidiary of “EuroChem” Increases Net Profits over 9M2007
OREANDA-NEWS. Over the nine months of the current year JSC “Lifosa” , incorporated in OJSC MCC “EuroChem”, produced 604.2 thousand tons of core products – diammonium phosphate (101% to the level of the previous year).
According to the "EuroChem” press service, the output of sulphuric acid is 845.7 thousand tons (102.2% in comparison with the similar period of the year 2006) and phosphoric acid – 317.8 thousand tons (104.6%). Production volume of aluminium fluoride was maintained at the previous level and amounted to 7.97 thousand tons.
Production of feed phosphates was concentrated on the only product - monobasic calcium phosphate – and amounted to 47.1 thousand tons (18.5 % higher than in the similar period of the year 2006). From January to September 2007, JSC “Lifosa” supplied to consumers products at the amount of 604.2 million lits: return on sales increased by 31 %. Net profits of JSC “Lifosa” from the beginning of the year reached 140.1 million lits, which is five times higher that the result over nine months of 2006.
The reason for improvement in productivity and net profit at JSC “Lifosa” is favorable situation in the world market of phosphoric fertilizers, the considerable growth of the price for the core product - diammonium phosphate, as well as implementation of a large-scale project “Use of local and reproducible sources of energy in the sulphuric acid workshop for the production of power”.
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