Jiangsu Yangnong's Q3 sales up 29%
Chinese agrochemical company Jiangsu Yangnong Chemical continued a strong year, recording a 28.8% increase in pesticide sales to Yuan 479.7 million ($76.3 million at the current rate) in the third quarter. Net profit for the three months also saw robust growth, up 33.7% over the same period last year to Yuan 31.5 million ($5 million). The company’s nine-month sales increased by 23% to Yuan 1,712.2 million ($272.1 million). Net profit for the first three quarters was up by 27.9% to Yuan 141.2 million ($22.4 million). Jiangsu Yangnong recently came second in the China Crop Protection Industry Association’s sales ranking of the top 100 Chinese pesticide companies, with revenues of Yuan 1,850 million ($294 million) in 2011 ( Agrow No 651, p 17).