Israeli generic crop protection products company Adama Holding Ltd. (TASE:ADMA.B1) (formerly Makhteshim-Agan) reported sales of $866.7 million for the first quarter of 2015 this morning. This compares with $909.7 million for the corresponding quarter of 2014, representing a decline of $43 million.
In volume terms, the company's sales grew by $20 million, and discounting the effects of currency fluctuations, sales grew by 0.4% compared with the corresponding quarter. The decline in the value of sales stemmed mainly from currency movements against the US dollar and from some decline in sales prices, partly offset by currency hedge deals.
Adama's operating profit was $125.5 million in the first quarter, 14.5% of sales, compared with $130.7 million, 14.4% of sales, in the corresponding quarter of 2014.
Adama posted a net profit of $85.7 million in the first quarter of 2015, compared with $98.7 million in the corresponding quarter.
Published by Globes [online], Israel business news - www.globes-online.com - on May 17, 2015
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