Major fertilizer producers see high profits in Jan-Sept

Updated: 2011-10-13 13:22


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BEIJING -- Five of the country's major fertilizer producers released performance data for the January-September period on Wednesday, with four of the companies realizing greater year-on-year profits during the period.

In a report filed with the Shenzhen Stock Exchange, Sichuan Lutianhua Company said it made profits of about 25 million yuan ($3.93 million) to 35 million yuan during the first three quarters, compared with a loss of 60.32 million yuan last year.

The company attributed the turnaround to strong demand in the third quarter and price increases for some of its main products.

Sichuan Meifeng Chemical, Guangxi Hechi Chemical and Liaoning Huajin Tongda Chemicals Company, also benefited from increased fertilizer prices during the period.

Fertilizer stocks were among the largest gainers on Wednesday. The share price of Sichuan Lutianhua soared 6.37 percent to 7.01 yuan per share, while Sichuan Meifeng jumped 8.89 percent to 7.35 yuan.