logo
Plus   Neg
Share
Email

Syngenta H1 Profit, Sales Down

Agriculture company Syngenta AG (SYT) Friday reported lower net income for the first half, reflecting higher impairments. Sales for the half year slid 2 percent.

For the first half, net income fell to $798 million from last year's $1.20 billion, including higher impairments partly from the closure of a production site. Excluding restructuring, net income was down 6 percent.

EBITDA for the period totaled $1.5 billion, 15 percent lower than last year. EBITDA was down 8 percent at constant exchange rates, adjusted for the impact of divestments. This reflected the difficult weather conditions in the US and higher raw material costs in China.

The Group's net sales for the half year slid 2 percent to $6.8 billion. Sales were down 1 percent, adjusted for the impact of divestments and lower royalty income under change of control clause.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Video game retailer GameStop Corp. laid off more than 120 employees, or nearly 14 percent of the total workforce at its corporate headquarters and at some other offices, according to reports. The layoffs also include senior editorial staff at Game Informer, the company's print and digital publication. Some of the senior staff at Game Informer took to Twitter to announce about their layoffs. Uber Technologies Inc. will establish a new U.S. general and administrative hub in Dallas, which will create 3,000 new jobs and more than $75 million in capital investment, Texas Governor Gregg Abbott said. Uber will get a grant of $24 million from the Texas Enterprise Fund or TEF, a business incentive fund that is used for attracting new business to the state and to ensure their growth. SAMpark LLC recalled 185 Children's pajama sets for burn injury risk to children. The pajamas failed to meet the flammability standard for children's sleepwear that requires sleepwear to be either snug-fitting or flame resistant. However, there have been no incidents or injuries reported so far.
Follow RTT