Regions :: Middle East
ICL profits slide 43% on weak potash volumes
10:31 AM MDT | March 19, 2013
Israel Chemicals Ltd. (ICL; Tel Aviv) recorded a 43% fall in net profits for the fourth quarter ended 31 December 2012 compared with the year-ago quarter, to $209.5 million. Fourth-quarter sales decreased 22%, to $1.33 billion, because of lower sales volumes—primarily potash sales to India and China—and lower average prices, ICL says. For full-year 2012, ICL recorded a 14% fall in net profits compared with 2011, to $1.3 billion, and full-year sales decreased 5.6%, to $6.67 billion. The fall in full-year sales was due to the reduced sales in the fourth...
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