24 August 2009 08:17 [Source: ICIS news]
Revenue for the three months ended 30 June almost halved to $1,082.6m as compared to $2,079.8m in the same period a year ago.
The company’s operating income was down 78% to $190.7m, as compared with the same period in 2008.
The company’s main business segment, ICL Fertilizers, reported the largest drop in sales declining 65.5% to $465.1m during the second quarter. Revenue generated from its Industrial Products and Performance Products arm booked a decline of 31.4% and 20.7% respectively.
“Despite the current crisis, and despite the fact that short-term market demand continues to be comparatively weak, the fundamentals driving long-term demand for fertilizers have not changed materially,” the company said in a statement.
ICL reported a net profit of 311.1m in the first half of the year, a decline of 70% in the same period a year ago.
Sales for the first six months stood at $1981.1m compared to sales of $3,607.9m in the first six months of 2008.
($1 = €0.70)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections