Israel Chemicals Ltd. reported a sharp rise in net profits and in revenues for the fourth quarter of 2011. The company said that the fourth quarter was the best in the company’s history. ICL reported a 50 percent rise in net profits to $370 million versus $245 million in the same quarter in 2010. Revenues were up by 20 percent to $1.71 billion compared to $1.42 billion in the fourth quarter of the previous year. ICL also reported that it was currently in negotiations with Chinese customers on closing potash deals.
For the year, ICL reported a 48 percent rise in net profits to $1.511 billion versus $1.024 billion in 2010. Revenues were up by 24 percent to $7.067 billion compared to $5.692 billion in the previous year.
ICL Fertilizers, the company’s largest division, accounted for 54 percent of total ICL revenues in 2011. The division reported a 31 percent in revenues to $4.1 billion versus $3.1 billion in 2010. The operating profit was up by 45 percent to $1.403 billion versus $965 million in 2010. Potash revenues totaled $2.506 billion versus $2.140 billion in 2010. Fertilizers and phosphate rock sales totaled $1.705 billion versus $1.056 billion in 2010.
The company attributed the improved results to a sharp increase in fertilizer sales and the contribution of a number of acquisitions.