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Redsun’s sales up 4% in Q3 2014
Nov. 14, 2014
Chinese company Nanjing Redsun posted a sales increase of 3.7% to yuan 1670 million ($272.7 million at current rate) in the third quarter (Q3) of 2014, compared to yuan 1611 million ($263 million) from the same period of last year. The Group’s profit attributable to the shareholders reached yuan 110 million ($18 million) in Q3, with a growth of 10%.
In the first nine months, the company’s gross margin grew by 5%, partly due to the rising price of paraquat by 36% to 275,00 yuan/ton, in comparison with the same period of last year. The forecasted paraquat production of the company was 40,000 tons in the first nine months. Influenced by declined fertilizer prices, the gross margin dropped by 21%, 19% and 16% in Q1, Q2 and Q3 respectively.
Source: AgroNews
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