Business News
Monsanto back in black in second quarter
Apr 7, 2010, 17:43 GMT
New York - The world's largest seed company Monsanto registered a profit of 887 million dollars for the second quarter, a decrease over the same period a year ago but better than the losses registered in the first quarter.
Profits were 19 per cent less than earnings a year ago, the company said Wednesday.
Sales dropped for Monsanto's weed killer, Roundup, whose generic rivals became available this year. Profit from weed killers dropped 84 per cent to 87 million dollars, as Monsanto halved prices to compete with the generics.
But earnings from seeds and technology licensing rose 1.8 per cent to 2.01 billion dollars as corn-seed sales gained 8.1 per cent and soybean-seed revenue increased 2.9 per cent, Bloomberg financial news service reported.
COMMENT
blog comments powered by DisqusLatest Headlines in Business
- 1. US unemployment drops further, but figures disappoint
- 2. Japan stocks down as euro debt outweighs positive US data
- 3. Iraq resumes oil flow after pipeline blast in Turkey
- 4. Spanish bond auction lifts eurozone worries, sinks Japan stocks
- 5. ECB holds rates, rules out early exit from emergency measures
Older Talkback
