IHS Chemical Week

Regions :: Middle East

Israel Chemicals' Earnings Decline

4:29 AM MST | November 23, 2010 | Ian Young

Fertilizer and specialty chemicals producer Israel Chemicals Ltd. (ICL; Tel Aviv) posted a 5% drop in third-quarter 2010 net profits compared with the same period of last year, to $243 million. The earnings figure missed analysts' forecasts of $265 million-$270 million. Sales increased to $1.39 billion from $1.35 billion one year earlier, despite lower potash prices. The earnings decline reflects logistics difficulties in India, which impacted potash sales volumes there, as well as a slowdown at ports in Israel during September, ICL says. The company says it is...

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