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MAI issues profit warning

Makhteshim-Again Industries (MAI) has issued a profit warning despite an estimated 20% rise in third-quarter sales. The company expects a larger net loss compared with last year’s third quarter, mostly as a result of a material difference in its tax expenses. It has not yet been able to accurately estimate the size of the loss. Third-quarter sales were off by a third in 2009, and earnings plunged ( Agrow No 580, pp 6-7).

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