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Adama posts higher profits, sales

10:10 AM MDT | May 13, 2014 | Ian Young

Adama Agricultural Solutions (Tel Aviv), the former Makhteshim Agan Industries, says its net income increased 9% in the first quarter, to $99 million, compared with the same period last year, on sales up 3%, to $910 million. Operating profit slipped slightly year-on-year (YOY), to $131 million. Adama's sales growth reflects higher quantities sold and higher selling prices as well as an improved product mix, the company says. Adama's sales increased 7% and 6% YOY in Europe and Latin America in the first quarter, to $467 million and $136 million, respectively...

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