Exports boost Sanonda in first half
Chinese chemical company Hubei Sanonda recorded significant growth in its agricultural chemical division during the first half of the year, with sales increasing by 35.2% to Yuan 908.1 million ($142.3 million at the current rate). The company’s agricultural chemical sales include pesticides and fertilisers, and accounted for 92.9% of its total sales. Net profit for the period increased by 59% to Yuan 20.3 million ($3.2 million). Exports, including of non-agrochemicals, were the main growth area, increasing by 68.1% to Yuan 521.4 million ($81.7 million), while domestic sales saw more modest growth, up 5.5% to Yuan 456.5 million ($71.6 million). Sanonda recorded a 23.5% increase in sales to Yuan 465.9 million ($73 million) in the first quarter ( Agrow No 617, p 4).