MOSCOW, August 19. /TASS/. The price of Phosagro shares grew by more than 7% during the main trading session on Moscow Exchange after the company posted a 2.7-fold increase in profit under International Financial Reporting Standards (IFRS), according to trading data.

As of 10:00 am Moscow time the price of Phosagro shares was up by 7.38% to 8,460 rubles per share, while by 10:55 am the price of shares slowed down growth to 3.41%, reaching 8,150 rubles.

On August 18, Phosagro said its net profit under IFRS soared 2.7-fold in January-June 2022 year-on-year to 129.048 bln rubles ($2.15 bln). The company's investment program for 2022 will total 64 bln rubles ($1 bln), which is one third higher than in 2021. The board of directors also recommended the dividend payment of 780 rubles per ordinary share. Total dividend payments include final dividends for 2021 and the first half of 2022.