Uralkali first-half net profit hits $794 mln

Russian leading potash producer Uralkali, which merged with Silvinit fertilizer producer this year, posted a net profit of $794 million to IFRS for the first half of 2011. The first half 201I net profit results reflect Uralkali's and Silvinit's consolidated financial performance since January 1 this year, the company said in a statement. The merged company's revenues totaled $1.973 billion in January-June 2011 and adjusted EBITDA stood at $1.054 billion, with the EBITDA margin of 64 percent, the firm said. The merged company's potassium chloride sales amounted to 5.217 million tons in the period, the firm said.