TEL AVIV, March 30 (Reuters) - Israel Chemicals (ICL) ICL.TA, a maker of fertilisers and specialty chemicals, beat expectations with an 82.5 percent rise in fourth-quarter net profit, boosted by record sales and high fertiliser prices.
ICL also said it plans to boost production of potash and phosphate rock between 2008 and 2011 due to rising demand for fertilisers.
The second-largest company listed on the Tel Aviv Stock Exchange by market value, ICL's quarterly net profit rose to a record $164.7 million from $90.2 million a year earlier.
Sales in the October-December period increased 44 percent to $1.211 billion from $839.6 million.
Analysts on average expected ICL to earn $144.5 million on revenue of $1.074 billion, according to a Reuters poll.
ICL said the rise in sales was driven by strong demand for fertilisers, leading to continued sharp rises in potash and phosphate fertiliser prices and significantly higher potash sales volume.
Its acquisition in August of Supresta, a maker of phosphorus-based flame retardants, contributed $68.8 million to sales in the quarter
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