Sanonda up 36% in Q3
Chinese company Hubei Sanonda recorded a 35.6% rise in total sales of Yuan 665.3 million ($106 million at the current rate) in the third quarter of 2012. Nine-month sales increased by 19 .8% to Yuan 1,782 million ($283.8 million) over the same period last year. “Agrochemicals”, which include pesticides and fertilisers, accounted for 92.7% of the company’s annual sales in 2011 ( Agrow No 638, p 6). Net profit during the third quarter almost quadrupled to Yuan 25.7 million ($4.1 million). Net profit for the first nine months was up by more than a third (+34.8%) to Yuan 50.2 million ($8 million). Hubei Sanonda came third in the China Crop Protection Industry Association’s ranking of the country’s top 100 agrochemical companies based on pesticide sales in 2011 ( Agrow No 651, p 17).