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Bayer agchem sales rise 14% in Q1

Bayer CropScience’s first-quarter crop protection sales clawed back most of its losses for the same period last year. It posted a 13.6% rise in sales to €1,676 million ($2,400 million at the current rate) for the first three months of 2011, or a 12% increase on a currency-adjusted basis. Growth beat expectations and was led by strong gains in the fungicide, herbicide and seed treatment segments. One-off “substantial” charges undid strong earnings growth. Bayer group CEO Dr Marijn Dekkers notes a particularly good start to the season in the northern hemisphere.

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