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Syngenta starts year with confidence

Swiss group Syngenta forecast another year of record sales as high crop prices and erratic weather spur farmers to use more of its pesticides, fertilisers and advanced seeds to boost yields.

Net profit rose 17 percent to $1.87 billion.

Sales at Syngenta, which competes with DuPont, and Germany's Bayer, rose 7 percent in 2012 to $14.2 billion, falling just short of the average analyst forecast of $14.3 billion.

"2013 I think is set to be strong. All you have to do is to look at the fourth quarter exit rates for some of our big markets... We start the year with confidence," Chief Executive Mike Mack said.

Source: reuters.com
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