VINACHEM

A string of listed fertiliser producers posted a rosy profit picture in 2021 despite a less favourable business climate in the previous quarter.

Lam Thao Fertilisers and Chemicals JSC (LAS) just announced its fourth-quarter financial statement which saw its Q4/2021 accrued profits from sales and services provision shedding 34 per cent on-year to just more than $3.73 million as the growth of capital expenditure outpaced that of net income.

Similarly, DAP-Vinachem JSC (DDV) caught $31.3 million in net revenues in Q4, equal compared to one year ago due to a sharp rise in capital expenditure. The soaring material cost had overshadowed the company’s Q4 profit. Accordingly, DDV just counted nearly $1.43 million in post-tax profit in the fourth quarter last year, down 42 per cent on-year.

Meanwhile, DDV raked in $125 million in net revenue in 2021, soaring 52 per cent on-year and nearly $8.34 million in post-tax profit, a six-fold increase on-year.

Several other fertiliser firms have announced healthy business results in 2021 albeit without making their financial statements public.

Along with this, Phu My Fertiliser JSC reaped $557.6 million in total revenues and $156.5 million in pretax profits, up 63 per cent in revenues and 324 per cent in pre-tax profit compared to 2020.

Similarly, Ca Mau Petroleum Fertiliser JSC (DCM) just recorded a record profit in its history reaching $79.13 million in 2021, triple the 2020 level. - VNN.-