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Makhteshim Agan Swings to a Net Profit

5:54 AM MST | November 7, 2011 | Ian Young

Makhteshim Agan Group (Tel Aviv) registered a $10-million net profit in the third quarter of 2011 compared with a $56-million net loss in the corresponding period of 2010, on sales up 20%, to $638 million. Ebitda increased more than three-fold, to $83 million. The improvement reflects higher agchem sales volumes, a shift in Makhteshim Agan's portfolio toward "higher-profit products," and restructuring efforts launched in 2010, the company says. "The period's top-line results reflect the continued strong performance of each of our regions, including...

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