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ADAMA Agricultural Solutions Ltd. (ADAMA) released its financial report, showing that in Q3 2018, the sales were up by 3.4% year on year to USD872 million. This really hit a historic high.
Ø The drought striking most of Europe is the most serious in the past 40 years. This resulted in the sharp decline in the sales of the premium marketed fungicides. Fortunately, ADAMA still maintained strong growths in other areas except Europe. Its sales in Q3 and Q1-3 both hit historic highs.
Ø The stable market demand gave an impetus to the sales price which was up by 6%. This is an offset of most of the influence caused by the sluggish currency market in many countries.
Ø The sales increased by 8.0% year on year and hit USD2.9 billion in Q1-3 2018, thanks to the year-on-year rise of 5.7% in sales volume and the increased sales price. This is a historic high over that in the same period of previous years. The sales from other areas except Europe were up by 13.1% year on year.
Ø The gross profit totaled USD279 million in Q3 2018.
Ø The gross profit margin was 32.0% in Q3, vs. 35.4% in the same period last year.