Syngenta Q1 sales fall 4% on currency effects

15 April 2009 09:00  [Source: ICIS news]

LONDON (ICIS news)--Syngenta's reported sales fell by 4% in the first quarter to $3.6bn (€2.7bn) due to adverse currency effects, the Swiss agrochemicals company said on Wednesday.

Sales increased by 7% at constant exchange rates (CER), the company said in a trading update.

Crop protection sales were 8% higher at CER, at $2.6bn, it said.

In Europe, sales increased with a strong performance in western Europe, notably France; in eastern Europe growth was led by Russia and Poland.

In the NAFTA region, Syngenta said it capitalised on its strong market position and saw good growth across all product lines.

Second-season sales in Latin America were lower owing to drought in Argentina and southern Brazil and to careful risk management, while growth in the Asia-Pacific region was particularly strong in the emerging markets.

For the full year, despite adverse currency effects and ongoing tight risk management, the company said it would continue to target growth in earnings per share.

($1 = €0.75)

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By: Hilde Ovrebekk
+44 20 8652 3214

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