Syngenta 2010 half year profit declines 11%

Date:07-22-2010


Swiss agrochemical company Syngenta announced first half reported net income of $1.25 billion, down 11% from $1.40 billion a year ago. Earnings per share for the quarter stood at $13.39 compared with $14.96 in the previous year.

Net income, excluding restructuring impairment, slipped 9% to $1.31 billion or $13.95 per share from $1.44 billion or $15.36 per share last year.

Quarterly Sales increased 1% to $6.74 billion from $6.66 billion in the previous year.

Looking ahead, in the second half of 2010 the company expects positive volume momentum to continue. The company said that its focus will be on achieving further market share gains in developed markets while building on its track record of operational efficiency.

Reported Financial Highlights				Excluding Restructuring, Impairment
	H1 2010 $m	H1 2009 $m	Actual %	H1 2010 $m	H1 2009 $m	Actual %	CER%
Sales	6,740	6,655	+ 1	6,740	6,655	+ 1	- 3
Crop Protection	4,996	5,000	-	4,996	5,000	-	- 4
Seeds	1,763	1,676	+5	1,763	1,676	+5	+2
Operating Income	1,558	1,783	- 13	1,652	1,833	- 10
Net Income	1,254	1,402	- 11	1,307	1,440	- 9
Earnings per share	$13.39	$14.96	- 10	$13.95	$15.36	- 9

Full sales report on Syngenta website