Russia, Phosagro (Fosagro)
Phosagro reduced capital investment by 6% in 2016. The funds were mainly spent for the construction of new ammonia and carbamide units at the Cherepovets site.
Phosagro increased its net profit under IAS by 64% on the results of 2016. The company’s revenue fell by 1%, is said in the annual report.
The Fosagro’s Board of Directors has recommended the shareholders' meeting to made a decision to spend 3.9 billion rubles to pay dividends for 2016, the press centre of Fosagro reports.
In 2016, Fosagro increased the volume of the fertilizers production by 9.4% compared with 2015 to 7.4 million tons, the company reports.
The shareholders of Fosagro have decided to pay dividends at the volume of 5.05 bln roubles, at 39 roubles/general share (13 roubles/GDR) out of the undistributed profit for 2015.
Fosagro plans to increase production of 8.6-8.7 mln tons by 2019, the CEO of the company, A. Guriev, said. This is by about 17.5% higher than is expected in 2016.
FosAgro might launch a new ammonia production capacity in Cherepovets in July 2017. The technologically connected with it carbamide production might be put into operation in September.
In 2017, Fosagro plans to reduce its capital investments to 25-30 billion rubles, which is almost 1.5 times lower than a year earlier, the company’s CEO Andrei Guriev said at the conference c
The Fosagro’s Board of Directors has recommended the shareholders to make a decision on payment of the dividends in the amount of 5.05 billion rubles of the company’s undistributed net
In the first six months of 2016, the net profit of Fosagro increased by compared to the same period of the previous year to 36.1 billion rubles, the company reports.