PhosAgro increased sales by over 10%
In the first half of 2022, PhosAgro increased the production of mineral fertilizers by 5.2% to 5.4 million tons, their sales – by 10.2% to 5.7 million tons. PhosAgro’s revenue grew by 90.9% to 336.5 billion rubles (approximately $5.7 billion), net profit – by 165.2% to 129 billion rubles (about $2.2 billion).
According to PhosAgro’s press-release, such a positive operating and financial performance became possible due to the full capacity of new units launched as part of the company’s comprehensive long-term development program and strong demand for its products.
“PhosAgro has paid great attention in recent years to the development of its facilities and distribution network, thus creating a good foundation for the growth of its production of mineral fertilizers and the expansion of their sales even in the current difficult conditions in the global market,” commented the information and analytical service of Fertilizer Daily.