Adds particulars on plant improve, potash gross sales, CEO quote
Adds particulars on plant improve, potash gross sales, CEO quote
TEL AVIV, Feb 13 (Reuters) – Israel Chemical substances (ICL) ICL.TA, ICL.N reported an increase in quarterly earnings on Thursday, however mentioned gross sales slipped because of an almost one-month deliberate shutdown and improve of the corporate’s Lifeless Sea amenities.
ICL mentioned it earned four cents per diluted share within the fourth quarter excluding one-time objects, up from 1 cent a yr earlier. Gross sales declined to $1.1 billion from $1.four billion.
Each outcomes have been in keeping with analysts’ estimate, in response to I/B/E/S information from Refinitiv.
The plant improve is anticipated to extend annual potash manufacturing by about 5%.
ICL’s outcomes have been additionally negatively impacted by the continued delay within the signing of a potash provide settlement in China and the weak commodity fertilizer setting.
Earnings have been boosted by decrease financing bills because of revenue from hedging…