SDS Biotech maintains sales growth at nine months
Japanese agrochemical company SDS Biotech recorded sales of ¥6,932 million ($89 million at the current rate) in the first nine months of 2011, up 2.4% on the same period in 2010. However, operating income was down 56.4% to ¥208 million ($3 million). Fungicide sales rose by 8.7% to ¥2,962 million ($38 million), due to strong sales of daconil-based products in the Philippines. Rice herbicides were up 1.7% to ¥2,338 million ($30 million), led by sales of benzobicyclon technical in South Korea. However, the company notes lower Japanese sales in both sectors. Non-crop pesticides increased by 5.8% to ¥1,144 million ($15 million). Sales declines were seen for insecticides, down 27.8% to ¥345 million ($4 million) and other pesticides, down 23.9% to ¥141 million ($2 million). The company maintains its forecast of full-year sales growth of 2.4%, coupled with a 34.2% drop in operating income ( Agrow No 619, p 8). This was based on a decision to accept lower prices in a bid to secure market share against overseas generic products.