29 October 1999
Zeneca agrochem’s future uncertain

ASTRAZENECA has said it will not clarify its plans for its agrochemicals arm until the full-year results in February.

Zeneca Agrochemicals has announced it is cutting 450 of the 8500 jobs across its operations as a probable prelude to sale or flotation of the unit.

The agrochemicals business suffered a £3 million loss in the third quarter and the nine-month profits total was 24% lower at £169m.

AstraZenecas third-quarter results were substantially better than expected. Third-quarter pre-tax profits rose by 54% to £573m, with the nine-month total rising 18% to £1.8bn.