Nantong Jiangshan sales up 18% in Q3

Sales of Chinese pesticide company Nantong Jiangshan Agrochemical & Chemicals Co., LTD grew up by 18.0% over the same period last year to Yuan 709 million in the third quarter of 2012 ended 30th September. Company’s operating profit and total profit reached Yuan 4.68 million and Yuan 8.04 million, respectively. In the first nine months, sales rose by 14.4% to Yuan 2,179 million over Yuan 1,904 million on same period last year. Company’s operating profit and total profit maintained growth, reached Yuan 8.58 million and Yuan 1,700 million. However, deteriorated performance of company resulted in operating profit loss of Yuan 58.7 million and total profit loss of Yuan 28.1 million last year.
 
The company said, last year, as a glyphosate producer, downward spiral on profit of glyphosate resulted in deteriorating performance of company. With the glyphosate market improved this year, the company turned losses into profit, sales of most products and gross margin ups.