Changqing Agrochemical sales up 38% in Q3

By CnAgri Print

Sales of Chinese pesticide company Jiangsu Changqing Agrochemical were up by 37.6% in the third quarter compared with the same period last year to Yuan 316 million. The net profit attributable to shareholders of listed company jumped 102.4% to Yuan 50.3 million.

In first nine months, sales went up by 34.1% to Yuan 970 million over Yuan 723 million on the same period last year. The net profit attributable to shareholders of listed company grew by 45.6% to Yuan 129 million.

The company notes, growth came from positive planting season in China, higher demand for company’s main insecticide products and higher sales of subsidiaries. While operating costs rose by 31.7% along with the scale-up of distribution.

Changqing expects to see the net profit of Yuan 148-182 million attributable to shareholders of listed company in 2012, up 30-60% over that of Yuan 113 million in 2011.