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Syngenta AG Message Board

  • funfundvierzig funfundvierzig Oct 17, 2013 10:02 AM Flag

    DuPont AG Numbers Tumbling Down?

    Syngenta Reports Lower Earnings from Seeds Write-Off

    Good Morning, Bonjour, Guten Tag,

    Readers, DuPont Chieftess Ellen Kullman never misses a chance to instruct the media she is running a "science-based food, fuel, and protection" outfit (her exact words). Never mind that didactic proclamation degrades and demoralises tens of thousands of regular DuPonters moiling and toiling in chemical and materials operations, such as Teflon and TIO2. Never mind that last year 2012, her hyped crown jewel, DuPont AG, accounted for less than a third of DuPont revenues. Now it looks like DuPont AG might be experiencing some softness.

    Syngenta reported this morning that 2013 earnings will be lower than expected because of a write-off on excess seed stocks.

    "We've produced more corn seeds than we plan to sell in 2014 so we're being cautious and taking a provision," [$170 million] Syngenta Chief Financial Officer John Ramsey told Reuters after the group reported third-quarter sales in line with expectations.

    "But this is something that you'll see through the whole industry," Ramsay said.

    Hmmmm...if that trend is impacting the "whole industry", DuPont AG might be whacked with the same negative consequence. Stay tuned, folks, Q3 2013 earnings will be reported in five days, next Tuesday, Oct. 22, 2013.

    Merely the morning column of one individual retail investor and long-time student of the shrinking, sinking
    DuPont ...funfun..

 
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