ICL profits up

28 November 2005 00:01  [Source: ICB]

Israel Chemicals (ICL) reported a 62.7% rise in third quarter operating income to $166m, boosted by price increases in most product areas.

Net profit rose 132.5% to $143.7m, aided by cost saving measures. Sales increased 7.2% to $727m for the July to September period. ICL said Asian sales soared 57% to $177.8m, compensating for lower sales in South America and Europe.

ICL Fertiliser sales climbed 7% to $397.9m for the third quarter, driven by higher prices, particularly for potash. Lower sales were reported in South America and Europe.

Third quarter sales for Industrial Products grew 12% to $194m, ICL Performance Products’ sales increased 6% to $154.7m, and sales from Metallurgy climbed 9% to $23.5m.

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