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Israel Chemicals Reports Slight Increase in Sales and Net Profits

3:15 AM MDT | May 23, 2012 | Sotirios Frantzanas

Israel Chemicals (ICL; Tel Aviv) says first quarter sales and net profits increased 1.5% and 3.3% to approximately $1.55 billion and $289 million, respectively. This compared with $1.53 billion and $280 million in the year-earlier period. The increase in sales is attributed to higher selling prices, and the consolidation of companies and operations acquired in 2011. Meanwhile, the quantities sold in the first quarter of 2012 were lower than those in the corresponding quarter of 2011 and alongside higher prices of raw materials, and other operating costs...

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