JSC Acron posted IFRS revenue of RUB 21.674 billion for the first nine months of 2007, up 23% year-on-year from RUB 17.642 billion.
At RUB 3.212 billion, Acron’s net profit for the accounting period more than doubled from RUB 1.363 billion for the same period in 2006. EBITDA was up 77% to RUB 5.317 billion from RUB 2.997 billion in 9M 2006.
Acron Senior Vice President Alexander Popov comments:
“Financial performance in 2007 will be the best in the Holding’s history. EBITDA and net profit for the first nine months of 2007 already exceed what we posted for the whole of 2006. The exponential growth was mainly due to new global prices for fertilisers, reflecting a global shift in demand for agricultural produce. With liberalized internal prices for primary commodities, this may serve as a guarantee for stable profitability at the Holding.”
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