Company News

Israel Chemicals Q3 net profit boosted by higher potash prices

TEL AVIV, Nov 1 (Reuters) - Israel Chemicals (ICL) on Thursday reported an increase in third-quarter net profit, boosted by higher prices for potash and phosphate fertilisers.

ICL earned an adjusted net profit of $134 million, compared with $115 million a year earlier. Sales fell to $1.37 billion from $1.44 billion but excluding divestments, sales increased by 7 percent.

The company said higher commodity and specialty prices more than compensated for the negative impact of lower sales volumes and higher raw materials, energy and transportation costs.

The company declared a quarterly dividend of 5.1 cents a share, up 20 percent from a year earlier. (Reporting by Tova Cohen; Editing by Steven Scheer)