RUSSIAN FERTILIZER group EuroChem this week reported a 283% rise in its consolidated IFRS net profit for the second quarter of 2011 as compared with the same prior year quarter. Net profit for the three months ended June 30, 2011 reached RUB 9.5 billion ($341 million) from RUB 2.5 billion a year earlier. Consolidated revenues for the group rose 30% to RUB 30.9 billion, up from RUB 23.8 billion in the second quarter of 2010. EBITDA for the three months ended June 30, 2011 came in at RUB 11.9 billion, a 54% increase on the RUB 7.7 billion reported for the previous year. EBITDA margin improved 6 percentage points to reach 38%, compared to 32% for the second quarter of 2010.
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