The shares of chemical fertilisers producer Azomures (AZO), based in Targu Mures, have become Stock Exchange stars, in the wake of an 140% increase since the end of April, amid an optimistic budget and results that were above-expectations in the first quarter of the year. Yesterday alone, Azomures shares gained 15% amid a declining market. The shares of the other listed fertiliser producer, Amonil, went up by 15% in the same period, also because of good results. The Stock Exchange general index BET-C went up by just 5%, while the blue chip index, BET went up by 7%. The company's market value rose by around 33 million euros in this interval, and approached 56 million euros during yesterday's trading session. However, the company continues to have a P/E ratio (price-to-earnings ratio) significantly below that of other companies on the Stock Exchange, when it comes to the profit budgeted for this year or profits seen over the last four quarters. Azomures has a 1.74 P/E , considering yesterday's price of 0.39 RON/share against the last twelve-month net profit, of 0.2245 RON/share, according to Stock Exchange data.
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