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SQM reports H2 profit increase despite revenue drops across the board

By Myles McCormick
Published: Wednesday, 26 August 2015

The South American lithium, potash and iodine miner saw small drops in revenue in each of its segments, as cost decreases pushed net profit up on 2014. Weather enforced closures of some facilities have not impacted sales, the company said.

Sociedad de Quimica y Minera SA (SQM), the Chilean miner of lithium, nitrates, iodine, potash and borates, reported a year-on-year (y-o-y) profit increase of 2% to $154.9m, even though revenues decreased in all sectors.

Total revenues of $871.8m were down 18% from the first half of 2014, led by a...

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