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Adama reports higher sales and earnings, plans New York listing

10:39 AM MDT | August 11, 2014 | Natasha Alperowicz

Adama Agricultural Solutions (Tel Aviv), formerly Makhteshim Agan, on Sunday reported a 23.5% increase in net income and a 9% rise in sales in the second quarter of this year, to $59.4 million and $875.9 million, respectively. Excluding currency effects, revenues grew 10.1%. Ebitda was 6.5% higher, at $141.2 million, while gross margin advanced from 31.5% in the second quarter of last year to 31.9% in the latest quarter. The company, the worlds's largest generic crop protection player, also says that it intends to list its shares in New York and...

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