Noposion up 25% in first six months
Chinese company Shenzhen Noposion Agrochemicals recorded pesticide sales growth of over a quarter (25.4%) in the first half of 2014 to Yuan 1,525.6 million ($247.5 million at the current rate). The company, which is one of China's top pesticide formulators, saw net profit for the period shoot up by 41.9% to Yuan 204.8 million ($33.2 million). Pesticide business costs increased by 30.9% to Yuan 966.1 million ($156.7 million), leading to a 2.7 percentage point drop in profit margin to 36.7%. Noposion has recently decided to invest Yuan 733.1 million ($118.9 million) in pesticide marketing and research platforms (see this issue).