Noposion raises 2012 profit forecast
Chinese agrochemical company Shenzhen Noposion Agrochemicals has issued a revised profit forecast for 2012, attributing the improved outlook to an upturn in the Chinese pesticide market. The company expects net profit for the year to increase by between 30% and 60%, to between Yuan 105.7 million ($16.8 million at the current rate) and Yuan 130.1 million ($20.7 million). In its third-quarter report, the company predicted net profit to grow by between 10% and 40%. The company, which mostly sells pesticide formulations in the domestic Chinese market, saw its nine-month sales in 2012 remain about level with the previous year, at Yuan 1,415 .9 million ($224.9 million - Agrow No 652, p 8).