Navigation

Syngenta profits grow on high crop demand

Swiss agrochemical firm Syngenta has posted a net profit of $1.1 billion (SFr1.21 billion) for 2007, an increase of 75 per cent over the previous year's figures.

This content was published on February 7, 2008 - 11:27

The Basel-based company said that the result – on revenues of $9.24 billion – was based on global economic trends and on a scarcity of natural resources. These factors had driven demand for its crop protection products and genetically modified seeds, it added.

"Following several years in which demand has exceeded agricultural production, stock of major commodities reached record low levels, prompting sharp rises in crop prices," CEO Mike Mack said in a statement on Thursday.

Syngenta – whose share price is outperforming its European competitors – is proposing a dividend of SFr4.80 ($4.38) per share.

On Thursday morning, stocks in Syngenta, the world's largest agrochemical firm, were trading close to the previous day's close of SFr279.

This article was automatically imported from our old content management system. If you see any display errors, please let us know: community-feedback@swissinfo.ch

In compliance with the JTI standards

In compliance with the JTI standards

More: SWI swissinfo.ch certified by the Journalism Trust Initiative

Contributions under this article have been turned off. You can find an overview of ongoing debates with our journalists here. Please join us!

If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.

Share this story

Change your password

Do you really want to delete your profile?