Bloomberg News

Belaruskali Most Profitable Belarusian Company, Ministry Says

October 06, 2011

Oct. 6 (Bloomberg) -- Belarus’s most profitable company in the second quarter was fertilizer maker Belaruskali, which produces 15 percent of the world’s potash, according to the Finance Ministry.

Belaruskali had a profit of 2.5 trillion rubles ($436 million) in the period, a 14-fold increase from the previous three months, the ministry said in a report on its website today. The Mozyr refinery was the former Soviet republic’s least profitable company with a net loss of 190 billion rubles.

President Aleksandr Lukashenko, who has considered selling a stake in state-owned Belaruskali as part of the country’s asset sale program, values the company at $30 billion.

The domestic currency was devalued by 36 percent in May and a further 38 percent last month after the authorities allowed the ruble to trade freely.

--Editors: Paul Abelsky, Alan Crosby

-0- Oct/06/2011 14:47 GMT

To contact the reporter on this story: Aliaksandr Kudrytski in Minsk, Belarus at akudrytski@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net -0- Oct/06/2011 12:17 GMT


Burger King's Young Buns
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus