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Cheminova agchems up 8% in second quarter

Cheminova recorded a 7.8% increase in second-quarter agrochemical sales to DKK 1,763 million ($317 million at the current rate). Growth was boosted by price increases of around 3%, while exchange rates, especially that of Brazilian reals and Indian rupees, had a negative effect of just over 2% or DKK 40 million ($7 million). The divestment of Stähler Switzerland, the Swiss operation of Cheminova’s German subsidiary, Stähler, during the first quarter (Agrow No 657, p 3) reduced revenues by DKK 31 million ($6 million).

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