IHS Chemical Week

Regions :: Middle East

Adama net loss widens

9:34 AM MDT | March 10, 2014 | Deepti Ramesh

Adama Agricultural Solutions (Tel Aviv), formerly known as Makhteshim Agan Industries, reports a net loss of $29.1 million in the fourth quarter of 2013 compared with a net loss of $21.9 million in the fourth quarter of 2012. Net income was affected by higher financing and tax expenses compared with previous years, Adama says. Fourth-quarter sales increased 13.1%, however, to $655.7 million, because of higher sales volumes and selling prices, partially offset by currency exchange rates, Adama says. For full-year 2013, Adama reports a 3.6% rise in net profits...

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