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SQM's second-quarter net profit drops almost 35%

10:57 AM MDT | August 27, 2014 | Francinia Protti-Alvarez

Sociedad Química y Minera de Chile (SQM; Santiago) reports a net profit of $71.1 million for the second quarter, down almost 35% year-on-year (YOY). Pretax profit also fell, to $100.9 million from $143 million in the year-ago quarter, and revenue shrank by 7.8% YOY, to $522.3 million. Specialty plant nutrition sales rose about 3% YOY, to $187.1 million. The segment represents more than one third of the company's total revenue stream. Sales of potassium chloride and potassium sulfate decreased by 10% YOY, to $147.7 million, as a result of lower prices...

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