Syngenta Sales Drop but Insecticide Sales Increase

26 March 2001 00:00  [Source: ICB Americas]

Syngenta, the world leader in crop protection, reported last week a 4 percent drop in sales in the second half of 2000 due to softening commodity prices and low farmers' incomes in Europe and North America.

The company, formed in November through the merger of the crop protection business of Novartis and Astra Zeneca, recorded a 2 percent decline in pro forma sales to $6.8 billion during the whole year. Operating income went up 13 percent to $693 million.

The only product line with increased sales was insecticides, which increased 4 percent in the second half. Sales of selective herbicides went down by 17 percent; non-selective herbicides by 14 percent; fungicides by 10 percent, and professional products by 14 percent.

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