Aventis reports big profit increase

10 November 2000

Aventis reports big profit increase

By FWi staff

LIFE sciences giant Aventis has reported a 23% rise in third-quarter profits, despite difficulties in its agrochemical division, reports the Financial Times.

The company had a net profit, before exceptional items, of Euro314 million (US$269m) compared with euro256 a year earlier.

Revenue rose 9.4% to Euro5.43bn in the quarter.

Rivals Novartis and AstraZeneca are currently spinning off their agrochemical businesses under the name of Syngenta.

Analysts believe Aventis may be tempted to follow suit if the floatation of Syngenta proves a success, reports the FT.

Agrochemical companies have been hit by the slump in farming and increased research and development costs.

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