Yangnong sales boosts in third quarter

Date:11-05-2012

Chinese agrochemical company Jiangsu Yangnong Chemical sales went up by 28.8% to Yuan 480 million in the third quarter of 2012. Company’s operating profit and total profit reached Yuan 40.5 million and Yuan 37.1 million, respectively.

In the first nine months, sales went up by 23.0% to Yuan 1,712 million over Yuan 1,392 million on the same period last year. Company’s operating profit and total profit maintained growth, reached Yuan 170 million and Yuan 166 million, up 29.8% and 28.0%, respectively.

The company said that higher benefit and gross margin of company was driven by an increase in insecticide applications due to higher incidences of pest this year and improvement of glyphosate market from the start of this year.