Sanonda slides 26% in first half
Chinese chemical company Hubei Sanonda recorded a 25.7% drop in agricultural chemical sales to Yuan 671.5 million ($99.8 million at the current rate) in the first half of the year. The company’s agricultural chemical sales include pesticides and fertilisers, and accounted for 90.4% of its total sales. Net profit for the period fell 71.9% to Yuan 12.4 million ($1.8 million). Exports, including of non-agrochemicals, were down 22.6% to Yuan 310.2 million ($45.8 million), while domestic sales fell some 20% to Yuan 432.9 million ($64.0 million). Sanonda recorded a 27.7% fall in total sales to Yuan 377.2 million ($55.8 million) in the first quarter of 2010 ( Agrow No 594, p 5).