Shenzhen Noposion down 13% in Q3
Chinese company Shenzhen Noposion Agrochemicals recorded a 12.5% drop in agrochemical sales to Yuan 257.7 million ($40.5 million at the current rate) during the third quarter of 2011. The company made an operating loss of Yuan 5.6 million ($879,000) during the period. During the first nine months, Shenhen Noposion saw sales increase by 9% Yuan 1,420.2 million ($223 million). Net profit for the period increased by 33% to Yuan 124.4 million ($19.5 million).The company came fourth in the Chinese Crop Protection Industry Association’s ranking of the 2010 top 100 agrochemical companies in China, with annual agrochemical sales of Yuan 1,434 million ($225.2 million - Agrow No 627, p 7).