Shenzhen Noposion maintains vigorous growth in China
Date:08-31-2008
Chinese agrochemical company Noposion Agrochemicals (Shenzhen) recorded a 47.9% jump in agrochemical sales to Yuan 708.4 million ($103.3 million at current rates) in the first half of 2008, compared with the same period last year. The company’s operating profits for the period were Yuan 82.7 million ($12.1 million), showing growth of 39.6%.
Sales of insecticides accounted for 59.6% of the company’s sales revenue, with sales of fungicides and herbicides accounting for 22.2% and 15.5% respectively. Geographically, 32% of the company’s total sales revenue was generated in the relatively more developed region of eastern China, with only 5.9% generated in the poorer north-western region.
In the first six months of 2008, Noposion acquired 189 new product registrations, and in June 2008, it was awarded the title of “leading enterprise in the innovation industry” by the Shenzhen municipal government. The company is engaged in the construction of a research centre for the development of new pesticide formulations, a project with a total investment of Yuan 67.3 million ($9.8 million). It is due for completion in November 2009. The company posted sales of Yuan 722.4 million ($105.3 million) in 2007.
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