Fertiglobe’s revenue for this quarter stands at $1.2 billion, up 118 percent, from the first quarter in 2021 ABU DHABI: Fertiglobe, one of the largest producers of urea and ammonia, reported a first quarter net profit of $361 million, up 332 percent, compared to the same period last year, the company said in its report. The company attributed the rise in net profit to an increase in selling prices across the firm’s product line. Fertiglobe’s revenue for this quarter stands at $1.2 billion, up 118 percent, from the first quarter in 2021. The free cash flow — the amount by which a business"s operating cash flow exceeds its working capital needs and expenditures on fixed assets — increased significantly to $521 million from $151 million compared to the previous year’s first quarter. “With strong Q1 results driven by increased selling prices across our product portfolio, we now expect H1 2022 dividends to be at least $700 million, up from our previous guidance of at least $200 million,” said Ahmed El-Hoshy, CEO of Fertiglobe.