Noposion: net profit largely down by 208.4% YoY to lose USD31.5 million in Q1-Q3 2016
Date:12-05-2016
By Think Real - In Q1-3 2016, Shenzhen Noposion Agrochemical Co., Ltd. (Noposion) realised a revenue of USD271.4 million, up by 5.9% YoY, and a net profit of losing USD31.5 million, largely down by 208.4% YoY.
“The rise in revenue can be mainly attributed to its growth in sales,” stated the company, “Specifically the revenue from main business was up by 5.8%, mainly thanks to the increases in sales, which can be further due to the acquisitions of 11 distribution companies in H1.”
However, the net profit was down by 208.4% significantly, mainly because:
1. The company annulled and cancelled stock options and limited stocks, and paid USD33.9 million for such stocks in this period;
2. The expenses for business expansion for “Tian Tian Quan”, including marketing, offer of technical service and prevention and control of pests and diseases, increased.
Noposion predicted that its full-year net profit would be negative, ranging from -USD44.3 million to -USD54.5 million, vs. +USD34.1 million in 2015.
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