The Canadian Press - ONLINE EDITION

Chinese potash fertilizer company Migao reports Q4 loss on higher revenues

  • Print

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.

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes

    No

  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.

letters

Make text: Larger | Smaller

LATEST VIDEO

Steeves wants to divert BRT cash to rec centres

View more like this

Photo Store Gallery

  • MIKE APORIUS/WINNIPEG FREE PRESS STANDUP - pretty sunflower in field off HWY 206 near Bird's Hill Park Thursday August 09/2007
  • A young goose gobbles up grass at Fort Whyte Alive Monday morning- Young goslings are starting to show the markings of a adult geese-See Bryksa 30 day goose challenge- Day 20– June 11, 2012   (JOE BRYKSA / WINNIPEG FREE PRESS)

View More Gallery Photos

Poll

Should the federal government be able to censor how Ottawa is portrayed in the CMHR?

View Results

Ads by Google