Fertiglobe’s third-quarter profit surges on higher demand for its products – The National

Fertiglobe’s third-quarter profit surges on higher demand for its products – The National

Fertiglobe, the joint venture between Adnoc and Netherlands-listed OCI, reported a surge in its third-quarter profit as revenue jumped on the back of higher demand for its products such as ammonia and urea.

Net profit attributable to owners of the company for the three months to the end of September jumped to $137.7 million, the company said in a statement to the Abu Dhabi Securities Exchange, where its shares are traded. Revenue during the period more than doubled to $866.7m.

“Fertiglobe’s earnings momentum during the third quarter and positive outlook are underpinned by a strong market environment for ammonia and urea,” the company, said.