SQM Q2 Profit Declines 44.1%

Chemical & Mining Co. of Chile

reported a 44.1% drop in its second-quarter profit. SQM's quarterly net profit declined to $107.4 million. For this year, SQM also cut its planned capital expenditures to around $400 million, versus its earlier estimate of $500 million. SQM shares closed at $25.34 yesterday.