JSC Acron’s RAS revenue for the first nine months of 2007 was RUB 21.996 billion, up 20.7% from the same period of 2006 (RUB 18.225 billion).
Profit on sales was up 28% year-on-year to RUB 5.391 billion from RUB 4.210 billion.
Net profit for the accounting period was RUB 4.612 billion, including factoring in a RUB 1.116 billion gain from a mark-to-market adjustment of financial investments. Net profit before the re-evaluation of financial investments rose 50.2% to RUB 3.497 billion, against RUB 2.328 billion last year.
JSC Acron Vice President Alexander Popov:
“On the whole, 2007 is looking good for our companies and our financials show strong growth. Even though Acron had to suspend production of NPK in August due to insufficient delivery of apatite concentrate, we managed to contain the negative effects. Acron is an enterprise manufacturing a wide range of high added-value products, and we quickly redirected production to avoid more serious losses.
Right now the global mineral fertilizers market is treating us well. Growing demand for the products is enhanced by higher prices. Acron’s net profit for 9M 2007 is higher than for the whole of 2006. This rapid growth in profit allows us to proceed with our investment programme. This December we are planning to launch a new type of fertilizer unit for production of urea-ammonium nitrate.”
JSC Acron’s complete RAS statements for the first nine months of 2007 may be found at www.acron.ru/investor_annual.html