MAI sales up 1% in fourth quarter
Makhteshim-Agan Industries (MAI) posted a 1.3% rise in fourth-quarter crop protection sales to $449.9 million in 2009 compared with the previous final quarter. That followed a 3% rise in the same period in 2008 ( Agrow No 564, pp 4-5). Total quarterly sales, including of non-agrochemical products, inched 1.1% higher to $496.2 million. Earnings on those dived. A net loss on total sales of $29.8 million met expectations of a profit warning earlier this year ( Agrow No 585, p 2). Annual pesticide sales were down by over 12%.