Company News

Israel Chemicals Q4 net profit falls as revenue gains

TEL AVIV, Feb 6 (Reuters) - Israel Chemicals (ICL) on Wednesday reported lower fourth-quarter net profit even as revenue increased, weighed down by higher financing and tax expenses.

ICL earned an adjusted net profit of $124 million, compared with $135 million a year earlier. Sales rose 4 percent to $1.41 billion but excluding divestments, sales increased by 8 percent.

Higher prices for its products more than compensated for the negative impact of the depreciation of the euro and Chinese yuan against the dollar, ICL said.

The company declared a quarterly dividend of 4.8 cents a share, down from 5.1 cents in the third quarter. (Reporting by Tova Cohen Editing by Steven Scheer)