Stirol doubles net loss y-o-y to UAH 657 mln in 2010

Stirol (UX: STIR UK), part of DF Group, generated a net loss of UAH 657.55 mln in 2010, more than twice its net loss in 2009, as stated in an announcement for the company’s AGM scheduled for April 27, Interfax  reported on Friday. As previously reported, in 2010 Stirol cut production of urea by 32.8% y-o-y, while it has increased ammonia output by 17.7% y-o-y. Antonina Davydenko: The growth in output in the last quarter 2010 (ammonia +40% q-o-q and urea +140% q-o-q) did not help the company to improve profitability. The larger than expected loss could indicate that acquisition by Group DF in November 2010 did not bring an immediate long-awaited turnaround for Ukraine’s major fertilizer producer.