Agricultural products hold back DuPont

14 August 1998

Agricultural products hold back DuPont

DUPONT is issuing a profits warning for the third quarter and says a poor performance from its agricultural products division is one of the factors for the slump.

The US chemicals group is issuing its third profits warning since early July. It says earnings would “most likely be closer” to the low end of the range of analysts estimates.

Charles Holliday, chairman, told analysts: “I would expect by the fourth quarter an increased contribution from our productivity efforts, a more normal comparison in our agricultural products division and lower interest expense.”

DuPont is expecting $100m less to come from agriculture products in the third quarter, owing to changes in distribution.

• Financial Times 14/08/98 page 23