Glufosinate-ammonium business drives Lier’s half-year performance
Date:07-29-2016
Chinese agrochemical company Lier Chemical published its half-yearly financial report on July 25. The company’s operating income in this period reached 918 million yuan, growing by 13.54% compared to the same period last year. Net profit also increased 10.6% to 97.975 million yuan.
In the pesticide segment, the total operating income was 915.90 million yuan, up 18.92% compared with last year. The operating income of technical products rose significantly by 42.43% to 581.59 million yuan, while the operating income of formulations and other products dropped 4.67% to 281.51 million yuan.
Lier noted in its report that the company intended to continue working toward independent registration and was fully focused on constructing the glufosinate-ammonium project, which will have an annual capacity of up to 5,000 tons. The business operations of its subsidiary Jiangsu Kuaida Agrochemical are also stabilizing.
Having seen strong sales of its pesticide technical products, including glufosinate-ammonium, Lier has forecast its net profit for the first three quarters will be between 111 and 144 million yuan, with the highest growth reaching 30%.
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