Syngenta Reports Lower Third-Quarter Revenue
Syngenta reported lower third-quarter sales and profit as European heatwaves reduced demand for crop protection products. Cautious farmers delayed spending amid rising costs, causing overall quarterly revenue to fall ten percent to five billion dollars.
Syngenta reported a 10% fall in third-quarter sales to $5.2 billion during Friday morning trading, driven by European heatwaves and cautious farmer spending. The drop follows the company's exit from lower-margin operations like grains trading and the loss of older product patents. The revenue contraction tests investor appetite as advisers target a $66 billion valuation for an upcoming Hong Kong market listing.
