18 April 2012 06:58 [Source: ICIS news]
SINGAPORE (ICIS)--Switzerland’s agribusiness firm Syngenta said on Wednesday its first-quarter sales increased by 7% year on year to $4.30bn (€3.27bn), with double-digit growths recorded in Europe, Africa, the Middle East and North America.
For Europe, Africa and the Middle East, sales for the quarter totalled $1.76bn, up by 10% year on year, while in North America, sales increased by 13% to $1.27bn, the company said in a statement.
In the Asia-Pacific region, sales in the March quarter rose by 2% to $530m, while sales in Latin America fell by 4% to $497m, it added.
“In 2012, although we face the anticipated headwind from currencies and raw materials, we expect to achieve a further increase in EBITDA [earnings before interest, tax, depreciation and amortisation] margin at constant exchange rates and to sustain strong cash generation,” said Syngenta CEO Mike Mack in the statement.
($1 = €0.76)
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