Chemtura AgroSolutions’ net sales decreased $11 million or 11% primarily due to lower sales volume. Sales volumes were impacted by dry conditions in Eastern Europe which reduced winter planting for oil seed rape by 30% and less than-planned improvement in Latin America where we saw a continuing impact from new registrations from providers of generic products. Operating income on a managed basis decreased $3 million primarily due to lower sales volume and unfavorable mix. On a GAAP basis, operating income decreased $4 million as 2011 was impacted by accelerated depreciation of property, plant and equipment.
The full year of 2011 sales were up 7.1% to $376 million comparing with the previous year, and operating profit surged by 42.9% to $30 million.
Chemtura AgroSolutions’ sales result ($million)
|
||||||
ended Dec. 31st
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Q4 2011
|
Q4 2010
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% change
|
FY 2011
|
FY 2010
|
% change
|
Sales
|
86
|
97
|
-11.3
|
376
|
351
|
+7.1
|
Operating profit
|
5
|
9
|
+44.4
|
30
|
21
|
+42.9
|
Find this article at: http://news.agropages.com/News/NewsDetail---6411.htm | |
Source: | Agropages.com |
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Web: | www.agropages.com |
Contact: | info@agropages.com |