IHS Chemical Week

Markets :: Fine Chemicals/Biotech :: Agricultural chemicals

New Operations and Higher Selling Prices Drive Makhteshim's Improved Results

4:24 AM MDT | March 13, 2012 | Sotirios Frantzanas

Makhteshim Agan Group (Tel Aviv) recorded net losses $26.7 million in the fourth quarter of 2011 compared with net losses of $159.2 million in the corresponding quarter of 2010. Sales went up 8.7%, to $549.3 million in fourth-quarter 2011 compared with $505.1 million in the fourth quarter of 2010. New operations, higher selling prices, and favorable currency exchange rates drove the growth in sales, the company says. Operating losses in the fourth quarter of 2011 were $6.2 million, compared with losses of $139.7 million in fourth-quarter 2010. Makhteshim says...

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