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growth in plant protection, decrease in seeds

Syngenta sees 1% more during the first half of 2014

The Swedish agro company Syngenta has made a net profit of 1.39 billion dollars for the first half of 2014. This is 1% less than the first half of 2013. Revenue grew by 1% reaching 8.51 billion dollars. Even with constant exchange rates, sales still increased 4%. Revenue in pesticides grew by 3% to 6.21 billion dollars. Revenue in seeds fell 4% to 1.97 billion dollars.

For the second half of 2014 Syngenta expects higher sales growth. The company has high expectations for Latin America because a new product, Elatus, is set to hit the market there soon. Throughout the year a 6% growth in revenue is expected despite the constant exchange rate. Profit will be higher due in part to the depreciation of stocks of seeds that were made in the second half of 2013. That kind of depreciation will not be needed this year. Throughout 2014, sales growth and a reduction in working capital in relation to revenue could ensure a free flow of outside acquisitions of approximately 1.3 billion dollars.