UPDATE 1-Syngenta H1 net beats forecasts, confirms targets

ZURICH, July 24 (Reuters) - Swiss agrochemicals company Syngenta posted a better-than-expected 25 percent rise in first-half net profit and raised its guidance for 2008 and 2009, citing buoyant agricultural markets and good prospects for the southern hemisphere planting season. Syngenta, which makes fungicides and herbicides as well as genetically modified seeds, said on Thursday it was now targeting full-year earnings per share (EPS) growth of over 35 percent and 15-20 percent for 2009. Previously, the company had guided full-year 2008 EPS growth to exceed 20 percent. Shares in the group were expected to open 3.2 percent higher, according to premarket data provided by Bank Clariden Leu. Net profit during the first six months of the year rose to $1.519 billion, on sales up 28 percent at $7.295 billion. A... [read full story]