Wynca sales up 9% in Q1 as profits plummet
Chinese company Wynca Chemical recorded a modest increase in sales during the first quarter of 2015, but saw net profit for the period fall dramatically. Total sales, which include the company’s two main business areas, glyphosate herbicide and organosilicone products, increased by 9% to Yuan 2,027.8 million ($326.8 million at the current rate). Net profit nosedived 90.6% to just Yuan 3.9 million ($628,446). Agrochemicals accounted for just over half (51%) of the company’s total sales in 2014. The company did not comment on the quarterly performance, although profits have historically been linked to fluctuations in the price of glyphosate.