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Israel Corp swings to Q4 profit
Mar. 26, 2010 02:10PM PST
Potash InvestingOn Thursday, Israel Corp (ILCO.TA), one of Israel’s largest holding companies, reported that the company swung to a fourth-quarter profit thanks to improved results from its chemicals, refining and shipping businesses as the global economy starts to recover.
On Thursday, Israel Corp (ILCO.TA), one of Israel’s largest holding companies, reported that the company swung to a fourth-quarter profit thanks to improved results from its chemicals, refining and shipping businesses as the global economy starts to recover.
The press release is quoted as saying:
The company posted a net profit of $126 million, having lost $312 million in the same period of 2008. Israel Corp is the parent of Israel Chemicals (ICL) (ICL.TA), the second-largest company on the Tel Aviv Stock Exchange by market capitalisation, shipping firm Zim, chipmaker TowerJazz (TSEM.TA) (TSEM.O) and Oil Refineries (ORL.TA). Its results were helped by a 15 percent rise in profit at ICL, the world’s sixth-largest potash maker. [ID:nLDE62N1M0].
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