Syngenta meets estimates
Syngenta sales rose 6 percent to $4.6 billion, the Swiss company reported. That met the $4.57 billion average of analyst estimates in Bloomberg data. Seeds rival Monsanto Co. reported fiscal second-quarter profit that beat analysts’ estimates April 3 as sales of its corn seed and Roundup weed killer climbed.
“Business momentum was sustained in the first quarter of 2013 despite adverse weather in March delaying northern hemisphere plantings,” Chief Executive Officer Michael Mack said in a statement.
Mack is betting that a company reorganization along crop lines will boost sales to $25 billion by 2020 from $14.2 billion last year.
Source: bloomberg.com