ICL reports lower net income and sales

ICL (Tel Aviv) today reported a 10% drop in third-quarter net income, to $394.8 million, on 4% lower revenues of $1,817.5 million, citing unfavorable exchange rate fluctuations, which accounted for approximately $72 million of the difference in revenues compared with the year-earlier period. “Despite the challenging global economic environment, ICL continues to demonstrate resilience due to its numerous leading market positions and a balanced portfolio that counterbalances low economic growth,” says Stefan Borgas, ICL’s CEO since 20 September 2012. “The...

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