Chemicals & plastics

Revenue fell 4.5% to NIS 4.79 billion, but one-time costs cut net profit 36% to NIS 150 million, despite a higher refining margin.

Operating profit was eroded by the appreciation of the shekel.

Agan Chemical Manufacturing managing director Avraham Kleiner is leaving and will be replaced by David Nir.

The bank says it expects Makhteshim Agan to maintain its recovery potential.

First quarter net profit rose 12% to $66.6 million

“It is clear that the agrochemical sector experienced strong demand.”

The companies posted an aggregate profit of €600,000 on €44 million turnover in 2006.

28 R&D projects are in pharmaceuticals, five are in biotechnology and chemicals, and six in plastics.

Merhav is the Israeli company with the largest investments in this Muslim country.

Annual revenue rose 9.1% to $3.26 billion, but net profit fell 11.4% to $373.9 million.

2006 net profit fell 65% to NIS 41.3 million.

Fourth quarter net profit was NIS 69 million.

The investment bank cites the huge profit margin in the phosphate fertilizers business.

The reasons are restructuring, lay-offs, outsourcing and the wage agreement.

FMS will report a pretax capital gain of NIS 47 million on the sale.

CEO Avraham Bigger made veiled criticism of predecessor Shlomo Yanai today.