Accessibility/Mobile Features
Skip Navigation
Skip to Content
Editorial News
Business
Classified Sites

The Canadian Press - ONLINE EDITION

Chinese potash fertilizer company Migao reports Q4 loss on higher revenues

TORONTO - Migao Corp. lost $22.6 million in its fourth-quarter as the Chinese potash fertilizer producer booked higher sales on generally lower prices.

The company (TSX:MGO) said Monday the loss amounted to 43 cents per share for the quarter ended March 31 compared with a loss of $22.3 million, or 43 cents per share, in the same quarter of 2013.

Revenue in the quarter totalled $233.9 million compared with $188.8 million for the quarter ended March 31, 2013, helped by increased sales including products such as potassium sulphate and potassium chloride.

But Migao said the higher sales came despite lower average selling prices except for potassium sulphate, which was sold at a price level comparable with a year ago.

For its 2014 financial year, Migao had a loss of $58.2 million, $1.11 per share, compared with a loss of $38.8 million, or 74 cents per share, a year earlier.

Revenues were $369.3 million for the full year, up 29.9 per cent or $85 million from the $284.3 million for the year ended March 31, 2013.

  • Rate this Rate This Star Icon
  • This article has not yet been rated.
  • We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high. If you thought it was well written, do the same. If it doesn’t meet your standards, mark it accordingly.

    You can also register and/or login to the site and join the conversation by leaving a comment.

    Rate it yourself by rolling over the stars and clicking when you reach your desired rating. We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high.

Sort by: Newest to Oldest | Oldest to Newest | Most Popular 0 Commentscomment icon

You can comment on most stories on brandonsun.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.

There are no comments at the moment. Be the first to post a comment below.

Post Your Commentcomment icon

Comment
  • You have characters left

The Brandon Sun does not necessarily endorse any of the views posted. Comments are moderated before publication. By submitting your comment, you agree to our Terms and Conditions. New to commenting? Check out our Frequently Asked Questions.

letters

Make text: Larger | Smaller

Brandon Sun Business Directory
Sudden Surge: Flood of 2014
Opportunity Magazine — The Bakken
Why Not Minot?
Welcome to Winnipeg

Social Media

Canadian Mortgage Rates