Agrochemicals group United Phosphorus in belief of sales rise in 2011
Jan. 7, 2011
Agrochemical manufacturer United Phosphorus enjoyed a robust performance as its sector continued to out-perform the wider economy.
The group, which is based at Birchwood Park, Warrington, manufactures pesticides, herbicides and fungicides.
Sales were down slightly, by £1.7m, to £70.2m in the year to March, 2010.
Its operating performance was weaker, with operating profit down from £5.34m to £1.48m, although exchange losses of £3m in 2009 meant pre-tax profits were nearly identical for the two years, at £1.05m.
In accounts filed at Companies House, the directors said: “The agrochemical industry was relatively better placed compared to the general economic climate in Europe.
"The company maintained its business position and the marginal drop in sales of 2% was mainly attributable to timing in off take from the distribution chain and partially due to late business season.
"The company has managed to either marginally grow or retain similar market share for most of its products.”
European sales were down £5.7m to £53.1m, although improvements in sales in the UK, USA and rest of the world clawed back £3.9m.
It added: “There remain future challenges due to reductions in the area of sugar beet being grown in Europe, but the company remains confident of maintaining its current position in the market.”
The company is upbeat about its prospects for the current financial year, to March, and is forecasting sales growth of 5-10%.
United Phosphorus is ultimately owned by a $1bn-turnover Indian group, also called United Phosphorus.
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