China XLX Fertiliser reports 8% rise in Q4 profit; dividend to rise by 70%
China XLX Fertiliser tody reported an 8 per cent rise in fourth quarter net profit to 30.4 million yuan (S$6 million). This took its full year profit to 311 million yuan, up 72 per cent.
Revenue for the three months to Dec and full year rose by 8 per cent and 7 per cent to 874.8 million yuan and 3.95 billion yuan respectively.
The increase was due to the increase in urea and compound fertiliser average selling prices and increase in methanol and compound fertiliser sales volume.
Overall profit margin increased from 13.7 per cent to 18.2 per centdue to increase in urea and methanol gross profit margins.