JERUSALEM, May 12 (Reuters) - 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 unfavourable exchange rates with higher revenue.
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 percent to $885.4 million, it said on Sunday.
The company said it has been able to raise prices to compensate for higher raw materials costs.
China National Chemical Corp (ChemChina) owns 60 percent 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.
(Reporting by Steven Scheer) Keywords: MAINDUSTRIES RESULTS/
(email@example.com)(+972 2 632 2210)(Reuters Messaging: firstname.lastname@example.org)
Copyright Thomson Reuters 2013. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.