TEL AVIV, Nov 9 (Reuters) - Israel-based Adama Agricultural Solutions (IPO-ADAS.N), which is planning to go public in New York, reported on Sunday a 33 percent rise in third quarter net profit due to higher sales and an improved product mix.
Adama, the world's largest provider of generic crop protection products, said its quarterly net profit rose to $24 million from $18 million. Its products include fungicides, herbicides, insecticides and growth regulators.
Revenue grew 4 percent to $761.5 million mainly due to an increase in volumes sold. Revenue declined in Israel and Asia Pacific-Africa but rose in other parts of the world.
"In a more challenging period for the industry, the company has grown its sales in nearly every geographic region, including impressive year over year gains in Europe and Latin America, while also significantly increasing its profits," Adama Chairman Yang Xingqiang said.
China National Chemical Corp (ChemChina) owns 60 percent of Adama, while Israel's Discount Investment Corp owns the rest.
Adama has filed with U.S. regulators a plan to raise $400 million in an offering on the New York Stock Exchange.
The company last month agreed to acquire from ChemChina control of several companies in China with 2013 sales of $863.5 million.
The acquisition is expected to raise Adama's revenue to close to $4 billion and give the company a major foothold in China, which is expected to become one of the company's key growth engines.
Adama expects to close the transaction during the first half of 2015, following its planned U.S. IPO.
(Reporting by Tova Cohen; Editing by Steven Scheer)