Syngenta H1 profit squeezed by weak crop markets, Latam region

Cenra

22/07/2016 06:00

July 22 (Reuters) - Syngenta  SYNN.S , the Swiss pesticides 
and seeds maker being taken over by state-owned ChemChina, 
reported a worse-than-expected drop in first-half profit, hurt 
by weak agricultural markets and a continued decline of its 
Latin American business. 
    Group net income declined 13 percent to $1.06 billion, below 
the $1.28 billion expected on average in a Reuters poll of 
analysts.  urn:newsml:reuters.com:*:nL8N1A739L 
    A 7 percent decline in sales to $7.09 billion fell short of 
the market view of $7.22 billion. 
    It reiterated that it still expected the takeover by 
ChemChina to be wrapped up by the end of the year. 
 
 (Reporting by Ludwig Burger; Editing by Michael Shields) 
 ((ludwig.burger@thomsonreuters.com; +49 69 7565 1311; Reuters 
Messaging: ludwig.burger.thomsonreuters.com@reuters.net)) 
 
Keywords: SYNGENTA RESULTS/