Cold, wet spring weighs on Syngenta first-half sales
ZURICH, July 22
ZURICH, July 22 (Reuters) - Syngenta AG, the world's largest maker of crop chemicals, said it expects underlying sales growth to pick up pace in the second-half after a cold wet spring hit sales in the first six months of the year.
The Swiss company, which makes products to kill weeds and bugs as well as genetically-modified seeds said sales rose 2 percent in the first half to $8.39 billion, falling short of the Reuters analyst consensus of $8.644 billion.
Net profit fell 5 percent to $1.409 billion compared to the average analyst forecast of $1.464 billion.
Syngenta expects full-year sales to surpass last year's record and is targeting 2020 sales of $25 billion for its top eight crops.
(Reporting by Caroline Copley)
- Man called Bitcoin's father denies ties, leads LA car chase
- Apple loses bid for U.S. ban on Samsung smartphone sales
- Florida mayor fights backyard gun ranges in 'Gunshine State'
- Putin rebuffs Obama as Ukraine crisis escalates |
- UPDATE 6-Obama warns on Crimea, orders sanctions over Russian moves in Ukraine