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Cold, wet spring weighs on Syngenta first-half sales
July 24, 2013 / 5:20 AM / in 4 years

Cold, wet spring weighs on Syngenta first-half sales

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

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