Restructuring holds back Koor

25 May 1999

Restructuring holds back Koor

KOOR INDUSTRIES, Israels biggest holding company, reported revenues down 13% during the first quarter of 1999 with the blame falling on its restructuring.

Revenues fell from US$741 million (£463m) in the first quarter of 1998 to $644m during the quarter this year.

Net income was up slightly over the same period from $10m to $11m.

Part of the companys restructuring has been a refocusing on agrochemicals.

• Financial Times 25/05/99 page 28