Sumitomo Chemical sales down 13.5% in H1

By CnAgri Print

Sumitomo Chemical’s Health & Crop Sciences section sales decreased in the first half year of 2012 which ended September 30th. Health & Crop Sciences segment includes crop protection chemicals, fertilizers, feed additives, household and public hygiene insecticides, and active pharmaceutical ingredients and intermediates. Sales of this segment dropped by 13.5% to Yen 119,786 million ($1,544 million at current rate) in the first year compared with Yen 138,521 million at the same period of the previous fiscal year. Operating income was down by 47.7% to Yen 7,728 million ($100 million).

In the area of crop protection chemicals, shipments of herbicides remained strong in overseas markets, but sales declined due to seasonal effects caused by a change in an overseas subsidiary’s fiscal year to the end of March from the end of December. The long-lasting insecticidal mosquito net, Olyset® Net, decreased due to lower demand.