Isagro sales down 12% in Q2 - update
Italian agrochemical company Isagro (Milan) posted a 11.7% fall in sales to €51.7 million ($74 million at the current rate) for the second quarter of 2009. That shows acceleration in falling sales since the first quarter’s 4% drop ( Agrow No 569, p 4). First-half revenues were down by 8.3% to €99.3 million. Agrochemicals accounted for around €93 million of first-half sales, down by about 10% on the same period last year. Sales of proprietary products fell, while revenues for third-party pesticides rose. The company expects full-year sales and earnings to fall below last year’s projections in its 2008-12 business plan ( Agrow No 540, p 8).