SQM increases Q3 profits 19%

Chilean industrial minerals and chemicals producer SQM (NYSE: SQM) posted earnings of US$36.1mn in the first nine months of 2003, 18.8% up on same-period 2002, the company told the country's security regulator. Consolidated revenue over the same period came in at US$528mn, 27.6% higher than US$414mn obtained in January to September 2002. "We have improved profits in every period, compared to their equivalent the previous year, over the last 10 quarters," general manager Patricio Contesse said. SQM is the world's largest producer of specialty fertilizers, iodine and lithium.