Sumitomo’s agchem sales up in first half
Strong sales of herbicides in overseas markets helped Sumitomo Chemical overcome the adverse effects of a strong yen in the first half ended September 30th 2011. Overseas subsidiaries saw sales values in yen terms decline, but Sumitomo recorded improved results for its Health and Crop Sciences division, which also includes feed additives, fertilisers and pharmaceutical chemicals. Divisional sales increased by 10.1% to ¥138,521 million ($1,798 million at the current rate), with operating income up 2.9% to ¥14,778 million ($192 million). In the previous fiscal year, agrochemical sales accounted for around 53% of the division.