Overseas sales boost Sumitomo's first quarter
Sumitomo Chemical recorded improved overseas agrochemical business in the first quarter ended June 30th 2013. Growth in herbicides and other products was due to increased production capacity and sales expansion, the company says. Another contributor was a positive currency effect, it adds. Sales of Sumitomo's health and crop sciences division, which also includes feed additives, increased by 13.2% to ¥75,999 million ($768 million at the current rate). Divisional operating profit rose by 25.1% to ¥8,133 million ($82 million). Interim agrochemical sales are not disclosed, but the product group accounted for 59.5% of divisional sales in the year to March 31st 2013 (Agrow No 668, p 4).