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Markets :: Fine Chemicals/Biotech :: Agricultural chemicals

Israel Chemicals Posts an Increase in Fourth-Quarter Profits

1:15 AM MDT | March 30, 2009 | Deepti Ramesh

Israel Chemicals Ltd. (ICL; Tel Aviv) recorded a 61% increase in fourth-quarter 2008 net profits, to $279 million compared with the year-ago period. Sales for the quarter fell by about 8%, to $1.12 billion. The fall in sales reflects the effect of the global economic slowdown on the demand for the company’s fertilizers and other products, ICL says. Higher selling prices during the quarter, however, mitigated the effect. ICL’s full-year 2008 net profits increased by 298%, to $2.2 billion and sales increased 68%, to $6.9 billion, due to the...

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