Shenghua Biok's sales halve in third quarter
Chinese chemical company Shenghua Biok recorded sales of Yuan 329.3 million ($48.3 million at the current rate) in the third quarter of 2009, down 49.7% on the corresponding quarter last year. Nine-month sales fell 56.5% to Yuan 1,071.4 million ($157.2 million) as the company “struggled to cope with the impact of the global financial crisis”. Agrochemical sales made up some 65.1% of total sales in 2008, yet less than half of sales in the first six months of 2009 ( Agrow No 576, p 8). Third-quarter net profit for the company fell by 51.8% to Yuan 26.1 million ($3.8 million).