Amonil makes profit despite lower sales

Fertiliser producer Amonil Slobozia managed to make third quarter profits despite a monthly sales average lower than in the first half of the year. Net profits were 2bn ROL, while sales reached 487bn ROL (12 million euros). Amonil had made losses for the first two quarters of the year. The company has experienced a 16% growth in ROL sales since the beginning of the year, when sales were 1,774bn ROL ($43 million), and made losses of 56bn ROL compared with a 56bn ROL profit for the period last year, during which time it benefited from government subsidies to small farmers as with any other producer. The decline in third-quarter sales was due to maintenance works carried out at the plant in July. “We scheduled maintenance for July and therefore there were no revenues, only expenses. Had we not had carried out the maintenance, we would seen larger profits,” explained chief executive Victor Dobrescu. ZF