Its been a productive year for Israeli fertilizer and specialty chemical company Israel Chemicals Limited, which ended 2011 with dizzying profits of $1.5 billion. This marked a 48 percent increase over the previous year, a highly unusual accomplishment for an Israeli company. The fourth quarter of 2011 was ICLs best quarter ever. Its volume turnover was the highest in its history and is estimated to have been about $7 billion last year. Its operating profit, deriving from manufacture in Europe, increased by 80 percent compared to the previous year. In addition, the company stated that the agreement between ICL and the Israeli government over salt harvesting from the Dead Sea created certainty as to the companys continued activity at the Dead Sea Works. Despite the fact that the fourth quarter of 2010 was the companys fourth best quarter overall, the fourth quarter of 2011 registered impressive growth over the previous year and led to 2011 being the companys best year ever. ICL sales in the fourth quarter of 2011 reached $1.71 billion, an increase of more than 20 percent compared to $1.42 billion in the same quarter of 2010. The net profit in this quarter was $370 million, a rise of 50 percent compared to $245 million in the same quarter last year.
Israel Chemicals reports explosive profits for 2011
Dead Sea extractor registers dizzying profits of $1.5 billion for last year, up by 48 percent over previous year • Company says agreement between ICL and government over salt harvesting from the Dead Sea has allowed it to continue its activities.
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