Syngenta 1st Half Net Surges 25%, Outlook Lifted

ZURICH (MarketWatch) -- Swiss agribusiness Syngenta AG Thursday reported a 25% spike in first-half net profit, and boosted its full-year outlook. The Basel-based producer of crop protection chemicals and seeds said net profit in the six months ended June 30 surged to $1.52 billion, from $1.22 billion a year ago. The seven analysts polled by Dow Jones Newswires had forecast net profit of $1.42 billion. Excluding restructuring and impairment, net profit increased to $1.58 billion from $1.19 billion, also beating analyst estimates, which were for $1.52 billion. Syngenta doesn't report quarterly earnings. The company raised its target for full-year, fully-diluted earnings per share growth - excluding 2007 non-recurring income, restructuring, impairment and share repurchase program - to... [read full story]