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MINSK, 19 August (BelTA) – In January-June 2011 net profit of the Belarusian potash mining company Belaruskali went up 320% to Br2.5 trillion, Belaruskali’s representatives told BelTA.
In January-June 2011 proceeds from sales amounted to Br6.6 trillion, 110% up. Return on sales soared 220% to Br2.8 trillion. The actual profitability of sales reached 42.2% in H1 2011 while the target was set at 34%.
In January-July 2011 the output of potash fertilizers reached 5.3 million tonnes, 101.5% as against the same period of last year. The company’s monthly output averaged 763,000 tonnes of potash fertilizers in 2011. This year the company started manufacturing NPK mixed fertilizers, a total of 16,000 tonnes in January-July 2011. In January-July 2011 Belaruskali also turned out 796,000 tonnes of commercial salt (4.4% up) and 41,000 tonnes of edible salt (13.3% up).
Belaruskali pays its taxes on time and honors obligations to creditors. In H1 2011 taxes payable went up nearly Br1 billion, with taxes on income up by 80% and taxes on profits up by 180%.
Speaking about the company’s H1 2011 performance the source said that last year the market of potash fertilizers recovered. “We were ready to meet the renewed demand,” BelTA has been told. In 2010 the company turned out 8.6 million tonnes of potash fertilizers, more than twice as much as in 2009 and 5% above 2008, the year that saw record high foreign currency proceeds. “Now all manufacturers of mineral fertilizers are working at 100% capacity, including Belaruskali. We are selling nearly as fast as we are making,” said the source.
OAO Belaruskali is one of the world’s top producers of potash fertilizers, with the market share of 16%. The company exports up to 90% of the output to Europe, Eastern Asia, the Mediterranean, South Africa, India, China, South and North Americas, all in all, 65 countries. The enterprise was incorporated as a joint-stock company in 2010.
