Makhteshim-Agan Industries expects Q4 sales boost:
Makhteshim-Agan Industries (MAI) expects sales for the fourth quarter of 2007 to be up by 11-15.8% to $465-485 million against the same period the previous year. The estimates include the company's non-agrochemical sales, which accounted for 9.6% of its 2006 revenues (Agrow No 516, p 4). The company estimates that total annual sales rose by 16.4-17.5% to $2,070-2,090 million, providing a net income of $172-178 million. Such a result would be more than double the net income of 2006. MAI's crop protection business is taking an increasing share of group sales, following some non-core divestments. It accounted for 91% of sales for the first nine months of last year, against 88.4% in the same period in 2006. The 2007 results will be published in March.