Aceto's agchems up in Q2
Agrochemical sales of US company Aceto (Port Washington, New York) rose by 23.7% to $9.3 million in the second quarter of fiscal 2012 (ended December 31st 2011). Sales were boosted by a sugar cane herbicide and an insecticide used on a wide range of crops, the company notes. The gains were partly offset by lower sales of glyphosate herbicide, which no longer features in the company’s business plans ( Agrow No 619, p 2). Gross profit rose by 24.9% to $1.5 million, with gross margin up slightly from 16.4% to 16.6%. The improvement reflects the poor margins from glyphosate in the previous fiscal year.