Mixed first quarter for SDS Biotech
SDS Biotech, the agrochemical subsidiary of Japanese company Idemitsu Kosan, recorded sales of ¥2,513 million ($27 million at the current rate) in the first quarter of 2013, with an operating profit of ¥191 million ($2 million). Fungicide growth was offset by lower herbicide sales. Sales in the same period in 2012 amounted to ¥2,587 million ($27 million), while operating profit was ¥246 million ($3 million – Agrow No 642, p 4). However, the company has not made direct comparisons with the previous year’s sales due to its acquisition of a 65% stake in Indian agrochemical and fertiliser company Sree Ramcides Chemicals in January (Agrow No 657, p 3). Sree Ramcides has become a consolidated subsidiary, but its operating results are currently excluded from SDS Biotech’s quarterly results.