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Israel Chemicals Q1 profit rises 30%; revenue up 26%.
(From Israel Business Arena)
Byline: Avi Weinreb
Israel Chemicals today announced that its first quarter profit rose 30% to $26.1 million, or $0.02 per share, compared with profit of $20.1 million or $0.017 per share in the same period in 2002.
The higher profit was mainly a result of a 26% rise in revenue, which reached $558.6 million, compared with revenue of $444.6 million in the first quarter last year. Gross profit rose 30% to $170 million, while operating profit rose 40% to $50.5 million.
Israel Chemicals CEO Akiva Mozes said these were the best financial results for the first quarter in the past five years, and that they came despite …
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