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Cheminova downgrades outlook for 2015

A doubling of Cheminova’s global market share to 5% by 2015 from the 2.5% share in 2008 is no longer considered realistic in the face of a combination of factors having transformed its market expectations. The company had set out its “Five-in-Fifteen” business plan in early 2009 after achieving nearly 30% annual growth in 2008 ( Agrow No 565, pp 5-6). It expected growth in revenues to lead to considerable economies of scale within sales and administration functions, while development and registration costs would impact earnings proportionately less.

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