Sumitomo records strong herbicide sales for half year
Sumitomo Chemical highlights “strong” sales of herbicides in overseas markets in its results for the six months ended September 30th 2009. It also records “solid” sales for its insecticide-impregnated Olyset Net mosquito nets. Interim agrochemical sales are not disclosed, but pesticides accounted for 65% of the company’s agricultural chemicals division, which includes feed additives and fertilisers, in fiscal 2009 ( Agrow No 569, p 5). Half-year divisional sales declined by 4.7% to ¥108,310 million ($1,211 million at the current rate), due to lower fertiliser sales and the appreciation of the yen. Operating profit rose by 4.1% to ¥12,766 million ($143 million). Sumitomo singles out the good performance of the crop protection business as the reason it exceeded its corporate sales forecast for the half year. The company’s other businesses of chemicals and pharmaceuticals were hit by the difficult global market.