MA Industries earns $90.2 million in first quarter of 2013
MA Industries Q1 profit edges higher
World's largest provider of generic crop protection chemicals reports rise in sales as it overcomes poor weather conditions, unfavorable exchange rates with higher revenue
MA Industries, the world's largest provider of generic crop protection chemicals, reported a marginal rise in quarterly net profit as it overcame poor weather conditions and unfavorable exchange rates with higher revenue.
Last Quarter
World's biggest provider of generic crop protection chemicals reports higher sales, slightly lower operating expenses in fourth quarter of 2012
Israel-based MA earned $90.2 million in the first quarter, up from $89.3 million a year earlier. Led by higher selling prices and double-digit gains in North America and Latin America, revenue grew 7% to $885.4 million, it said last week.
The company said it has been able to raise prices to compensate for higher raw materials costs.
China National Chemical Corp (ChemChina) owns 60% of MA Industries (MAI) while Israeli holding company Koor Industries, a subsidiary of IDB Holding Corp, owns the rest.
"We continue to focus on the building of a business platform that will enable MAI to become a leading player in the rapidly growing crop protection markets in China," its chairman, Yang Xingqiang, said in a statement.
