Israel’s ICL Q2 net profit fall 23% on lower fertilizer prices

07 August 2013 08:43  [Source: ICIS news]

SINGAPORE (ICIS)--ICL’s second-quarter net profit declined 23% year on year to $316m (€237m), partly on lower prices of potash and phosphate fertilizers and reduced sales in China, the Israeli firm said on Wednesday.

Sales for the three months to June 2013 fell by 7% year on year to $1.77bn, with operating income down by 27% to $393m, the company said in a statement.

Earnings before interest, tax, depreciation and amortisation (EBITDA) in the June quarter were down 22% to $481m, it said.

In the first six months of the year, ICL’s net profit fell 10.8% year on year to $622m, with sales largely unchanged at $3.41bn, the company said.

Operating profit for January-June 2013 was down 14.1% to $756m, it said.

By: Pearl Bantillo
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