Sanonda sales up on lower profits in H1
Chinese chemical company Hubei Sanonda recorded a 6.1% increase in its agricultural chemical sales for the first six months of the year, reaching Yuan 1,136.1 million ($179 million at the current rate). The company’s “agrochemical” sales include pesticides and fertilisers. Net profit for the period fell by 21% to Yuan 24 million ($3.8 million). In the reporting period, the company completed a 20,000 tonnes/year 2,4-D herbicide production plant, with a total investment of Yuan 60.1 million ($9.5 million), and reached 98.5% completion of a 10,000 tonnes/year pyridine and pyridine derivative plant, in which Yuan 105.6 million ($16.6 million) has so far been invested. Sanonda recently amalgamated a pesticide subsidiary, Sanonda (Jingzhou) Pesticides and Chemical, into its main operations ( Agrow No 645, p 3).