MOSCOW (MRC) -- Fertiliser producer
Israel Chemicals (ICL) reported a smaller than expected drop in fourth-quarter
profit and revenue on Wednesday, helped by its speciality products and record
potash sales, said Reuters.
which produces about a third of the world's bromine and is the sixth-largest
potash producer, has sought to counter low commodities prices by diversifying
into products such as advanced additives and speciality fertilisers.
Israel Corp subsidiary, which has exclusive permits in Israel to extract
minerals from the Dead Sea, said that the prolonged commodities downturn had
reduced minerals margins and that potash prices remain its main challenge this
year despite a modest recovery from trough levels.
Net income excluding
one-off items was USD114 million for the three months to Dec. 31, against USD180
million a year earlier and a forecast of USD73 million by Thomson Reuters
Revenue dropped 6 percent to USD1.34 billion, beating a forecast
of USD1.29 billion.
Israel Chemicals Ltd., also known as ICL, is a
multi-national manufacturing concern that develops, produces and markets
fertilizers, metals and other special-purpose chemical products. ICL serves
primarily three markets: agriculture, food and engineered materials. ICL
produces approximately a third of the world’s bromine, and is the world’s
sixth-largest potash producer. It is a manufacturer of specialty fertilizers and
specialty phosphates, flame retardants and water treatment solutions.