Arab Today, arab today syngenta sees profit slide amid currency pressure
Last Updated : GMT 19:05:26
Arab Today, arab today
Arab Today, arab today

Syngenta sees profit slide amid currency pressure

Arab Today, arab today

Arab Today, arab today Syngenta sees profit slide amid currency pressure

Leading agrochemicals group Syngenta
Zurich - AFP

Leading agrochemicals group Syngenta on Wednesday posted a 2.0 percent drop in net profit, pointing to restructuring costs and pressure on currencies in emerging markets.
In 2014, the Swiss company raked in a net profit of $1.6 billion (1.4 billion euros), on sales that were up three percent at $15.1 billion.
The result narrowly beat the expectations of analysts polled by the AWP financial news agency, who had anticipated a net profit of $1.5 billion on sales of $15 billion.
The company, which specialises in insecticides to protect crops and competes with US giant Monsanto, said that not counting restructuring costs and impairments, its earnings per share inched up one percent to $19.42.
Syngenta last year launched a massive restructuring programme, which the company said would lead to the termination or relocation of some 1,800 jobs in 2015.
The company, which makes more than half of its sales in emerging markets, meanwhile saw currency fluctuations take a heavy toll, draining $90 million out of its operating margin.
In a bid to withstand the brutal fall of the ruble and the Ukrainian hryvnia, Syngenta raised prices, allowing it to make back around half of its losses in those currencies.
"With emerging markets now accounting for over 50 percent of our sales, managing more volatile conditions has become an integral part of our business," company chief Mike Mack said in the earnings statement.
Not counting currency fluctuations, the company said its sales were five percent higher in 2014 than the year before.
Syngenta saw its sales swell seven percent in Latin America, where its new fungicide Elatus raked in more than $300 million after its launch in Brazil.
In North America though, sales plunged seven percent because of a longer than usual winter season that delayed crops, as well as because of widespread flooding in Canada. Sales were also hit by a reduction of acres for planting corn, the company said.
Syngenta was cautious about the future, saying it expected its sales at constant exchange rates to remain "broadly unchanged", adding that it was planning further price hikes to offset continued currency pressures.
"In 2015, in an environment of crop price and currency volatility, we will continue our track record of rigorous risk management," Mack said.
Syngenta said its board planned to propose hiking the dividend paid on 2014 earnings by 10 percent to 11 Swiss francs per share, reflecting "the company's confidence in future cash generation and its robust balance sheet."
Following the announcement, Syngenta saw its share price swell 3.53 percent in midday trading to 311 Swiss francs, as the Swiss stock exchange's main SMI index grew 1.31 percent.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today syngenta sees profit slide amid currency pressure Arab Today, arab today syngenta sees profit slide amid currency pressure

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today syngenta sees profit slide amid currency pressure Arab Today, arab today syngenta sees profit slide amid currency pressure

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Egypt tourism revival steady but slow

GMT 16:04 2017 Tuesday ,19 September

Egypt tourism revival steady but slow
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today 600,000 children may flee to Bangladesh

GMT 06:49 2017 Monday ,18 September

600,000 children may flee to Bangladesh
Arab Today, arab today Equifax executives step down

GMT 16:16 2017 Saturday ,16 September

Equifax executives step down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today 5,000 'Dieselgate' deaths in Europe per year

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Renault-Nissan to launch

GMT 10:44 2017 Saturday ,16 September

Renault-Nissan to launch
Arab Today, arab today Eman Al Assy receives three offers

GMT 06:31 2017 Saturday ,16 September

Eman Al Assy receives three offers
Arab Today, arab today 'Severe' Typhoon Doksuri pounds Vietnam

GMT 15:49 2017 Friday ,15 September

'Severe' Typhoon Doksuri pounds Vietnam

GMT 11:10 2017 Friday ,15 September

Fadl Shaker retreats from surrendering himself

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 10:25 2017 Thursday ,14 September

Greece fumbled oil spill response

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:45 2017 Sunday ,17 September

France's hurricane-hit St Martin

GMT 21:57 2017 Sunday ,17 September

Russia and Iraq restore air travel

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:56 2017 Friday ,15 September

Apple's grand plan in Ireland held up by a forest

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday