Mixed fortunes for Chinese agchem companies in H1
Ten of China's 17 stock market-listed pesticide companies achieved growth in net profits during the first half of the year. That was a marked improvement over the same period last year when no company managed to achieve higher profits, reports the Chinese newspaper, the AgriGoods Herald. In the first quarter, only five of China's listed agrochemical companies (numbering 15 at the time) saw a year-on-year increase in profits, while nine recorded a drop ( Agrow No 619, p 19). The first half of 2011 was an “exceptionally complex” period for China's pesticide companies, with increasing prices for raw materials, government-enforced electricity restrictions and rises in labour costs bringing extra pressure to pesticide operations, the paper notes.