{"id":80749,"date":"2022-11-08T14:50:07","date_gmt":"2022-11-08T11:50:07","guid":{"rendered":"https:\/\/www.capitalfm.co.ke\/business\/?p=80749"},"modified":"2022-11-08T14:50:07","modified_gmt":"2022-11-08T11:50:07","slug":"bayer-profits-boosted-by-agrochemicals-division","status":"publish","type":"post","link":"https:\/\/www.capitalfm.co.ke\/business\/2022\/11\/bayer-profits-boosted-by-agrochemicals-division\/","title":{"rendered":"Bayer profits boosted by agrochemicals division"},"content":{"rendered":"<p><strong>BERLIN, Germany, Nov 8 &#8211; German chemicals giant Bayer on Tuesday reported a more than six-fold increase in third-quarter profits due to a strong performance from its agrochemicals division.\u00a0<\/strong><\/p>\n<p>Net profit in the July-to-September period was 546 million euros ($544 million), slightly above forecasts.<\/p>\n<p>Bayer reported 85 million euros in profit in the third quarter of 2021, when its results were hit by legal battles related to glyphosate.<\/p>\n<p>The substance has been deemed a &#8220;probable&#8221; carcinogen by the International Agency for Research on Cancer.<\/p>\n<p>In its latest results, the maker of Aspirin saw its operating profit jump more than 126 percent on-year, with earnings before interest and tax reaching 1.2 billion euros.<\/p>\n<p>Sales rose by 5.7 percent, to more than 11.2 billion euros.<\/p>\n<p>&#8220;Despite rising inflation and global supply chain problems, we were again able to boost sales and earnings,&#8221; said Bayer CEO Werner Baumann.<\/p>\n<p>The results were boosted by the agrochemicals division, which saw its sales rise 8.4 percent to 4.6 billion euros.<\/p>\n<p>Herbicide sales surged 44.9 percent due to price increases in &#8220;a positive market environment&#8221;, Bayer said.<\/p>\n<p>The company however warned of risks ahead due to rising costs as inflation surges, and disruptions to supply chains.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BERLIN, Germany, Nov 8 &#8211; German chemicals giant Bayer on Tuesday reported a more than six-fold increase in third-quarter profits due to a strong performance from its agrochemicals division.\u00a0 Net profit in the July-to-September period was 546 million euros ($544 million), slightly above forecasts. Bayer reported 85 million euros in profit in the third quarter [&hellip;]<\/p>\n","protected":false},"author":12327,"featured_media":39814,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[851,3],"tags":[7285,7284,596,7029],"coauthors":[695],"class_list":["post-80749","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-agriculture","category-world","tag-agrochemicals","tag-bayer","tag-profits","tag-third-quarter"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.7.1 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Bayer profits boosted by agrochemicals division - Capital Business<\/title>\n<meta name=\"description\" content=\"BERLIN, Germany, Nov 8 - German chemicals giant Bayer on Tuesday reported a more than six-fold increase in third-quarter profits due to a strong Kenya breaking news | 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