Sinofert (00297) said it recorded a loss attributable to owners of Rmb432 million for the six months ended 30 June 2016, as compared to the profit of Rmb342 million for the same period in 2015, which was mainly attributed to the sluggish fertilizer market, the falling price of fertilizers and the resumption of value-added tax on fertilizer products.
Basic and diluted loss per share was Rmb6.15 cents.
The revenue was Rmb8,909 million, a decrease of 46.66% from a year earlier.
The gross profit margin of the Group was 3.98%, down by 2.37 percentage points compared to the corresponding period of 2015. Due to the price drop of potash and the resumption of value-added tax on fertilizer products, the gross profit margin of potash fertilizers decreased by 8.82 percentage points. Besides, the gross profit margin of other products slightly decreased due to severe oversupply and falling market prices.
No interim dividend will be distributed.
25/08/2016 13:42
Sinofert (00297) interim net turns red to Rmb432m; no div
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