Wynca posts Q1 loss despite sales boost
Chinese company Wynca Chemical recorded total sales of Yuan 1,396.3 million ($220.9 million at the current rate) in the first quarter of 2012, an increase of 15.3% compared with the same period last year. Total sales include those of organosilicone products, and agrochemical revenues were not revealed. Agrochemicals accounted for 44.2% of the company's total sales in 2011 ( Agrow No 639, p 5).Operating costs increased by 17.4% to Yuan 1,289.2 million ($203.9 million), and the company made an operating loss of Yuan 42.6 million ($6.7 million) during the period. The company attributes poor performance to continued oversupply and market saturation of its main products, including the herbicide, glyphosate.