Sumitomo's agchem sales down in first half
Sumitomo Chemical recorded a drop in agrochemical sales for the six months to September 30th 2012. Sales were down due to seasonal effects caused by a change in an overseas subsidiary’s fiscal year-end from the end of December to the end of March. Herbicide sales remained strong in overseas markets. In the non-crop sector, sales of the Olyset insecticide-impregnated mosquito nets decreased due to lower demand. Total sales of the company’s Health and Crop Sciences division, which includes feed additives, fertilisers and pharmaceutical manufacturing, fell by 13.5 % to ¥119,786 million ($1,503 million at the current rate), while operating profit was down by 47.7% to ¥7,728 million ($97 million). Agrochemicals accounted for 52% of divisional sales in 2011/12 ( Agrow No 643, p 5).