Markets :: Basic Chemicals :: Inorganic Chemicals :: Fertilizers
ICL's Earnings Rise on Improved Sales Volumes and Cost Cutting Programs
5:18 AM MDT | March 24, 2010 | Kerri Walsh
ICL's fourth-quarter 2009 net income and sales improved because of higher volumes sold in its fertilizers and industrial products businesses and cost saving programs. Reduced selling prices for some products, including phosphate and fertilizers, partially offset higher sales volumes, ICL says. Net income rose 15%, to $203 million, on sales up 10%, to $1.2 billion. Operating profit doubled to $254 million. ICL says its results compare to weak conditions in fourth-quarter 2008. Demand began to recover during second-half 2009. "Signs of further recovery...
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