ADAMA Posts Narrower Loss In Q2

(RTTNews) - ADAMA Ltd. (000553.SZ) reported that its second quarter net loss reduced to $20 million from a loss of $32 million, a year ago. Reported loss per share was $0.0085 compared to a loss of $0.0138. Adjusted net profit reached $4 million compared to $6 million, prior year. Adjusted EPS was $0.0018 compared to $0.0024.

Sales declined 3% to $1.06 billion. Revenues decreased reflecting a decline of 1% in volumes and 3% in prices, partially compensated by positive foreign exchange impacts. Excluding the decision to reduce the manufacture and sale of certain basic chemicals, sales would have decreased by 1% in the second quarter.

ADAMA closed trading at CNY 5.60 on Shenzhen Stock Exchange, up 1.82%.

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