Sanonda’s ag sales up 15% in 2012
Chinese chemical company Hubei Sanonda recorded a 14.6% increase in agricultural product sales to Yuan 2,335 .8 million ($371.9 million at the current rate) in 2012. That was comfortably ahead of its Yuan 1,900 million ($302.5 million) sales target for the year ( Agrow No 638, p 6). The company classifies both pesticides and chemical fertilisers as “agrochemicals”, a category that accounted for 98.3% of the company’s total sales before adjustments. Costs for the agrochemical division were up 12.7% to Yuan 1,988.1 million ($316.5 million). Net profit for 2012 more than doubled to Yuan 106.2 million ($16.9 million). The company hopes to achieve sales of some Yuan 2,500 million ($398 million) this year.