Israel's ICL Q2 profit jumps, sees favourable pricing in markets

Icl

28/07/2021 07:15

JERUSALEM, July 28 (Reuters) - Israel's ICL (ICL)  ICL.TA 
 ICL.N  reported on Wednesday a jump in second-quarter profit,
boosted by strong sales of its specialty products and rising
prices of commodity fertilisers.
    The fertiliser and speciality chemicals company posted
quarterly adjusted net profit of $135 million, up from $72
million a year earlier. Boosted by a 21% rise in potash sales,
revenue climbed to $1.6 billion from $1.2 billion.
    It noted that the average potash price per tonne of $281 was
25% higher than last year, and that rising prices would have a
significant impact in the second half.
    "The strong performance in all divisions was supported by
high demand for the company's products and rising prices in most
markets," said CEO Raviv Zoller.
    

 (Reporting by Ari Rabinovitch, editing by Louise Heavens)
 ((ari.rabinovitch@thomsonreuters.com;  +972-2-632-2202; Reuters
Messaging: ari.rabinovitch@thomsonreuters.com@reuters.net))