Cheminova downgrades revenue expectations
Cheminova has downgraded its revenue expectations for 2009 in the face of declining world prices for the herbicide, glyphosate. Its revised outlook for the year places revenues at DKK 5,500 million ($1,105 million at the current rate) with an operating profit in the range of DKK 10-50 million ($2-10 million). The company’s revenue outlook at the time of declaring its half-yearly results was DKK 5,800 million ($1,165 million) and it expected an operating profit margin in the range of 6-7% ( Agrow No 575, p 5). It still expects a positive cash flow from operating activities.