Wynca lowers H1 loss forecast
Rising prices of the herbicide, glyphosate, and falling raw material costs have led Chinese company Zhejiang Wynca Chemical to lower its loss forecast for the first half of 2012. The company expects to make a loss of some Yuan 28-30 million ($4.4-4.7 million at the current rate) in the period, less than half of the previously forecast net loss of Yuan 60-70 million ($9.5-11.1 million). Better operating margins for its main product, glyphosate, have helped the company return to profitability in the second quarter, during which it made net gains of Yuan 5-7 million ($790,000-1.1 million). Wynca reported an operating loss of Yuan 42.6 million ($6.7 million) in the first quarter of 2012 ( Agrow No 641, p 8).