DuPont Reports Profit
Like other basic crop protection manufacturers in recent weeks, DuPont is reporting a sales increase during the first quarter of 2008 and expects continued success.
DuPont Co., the third-biggest U.S. chemical company, says its first-quarter profit rose 26 percent to $1.19 billion as record grain prices boosted sales of crop protection products and genetically modified corn and soybean seeds. The agriculture unit accounted for one-third of DuPont’s sales in the first quarter.
Soybean sales in the U.S. may be “very strong” in the second quarter, say company officials. The company is investing in its Pioneer unit, the world’s second-largest seed producer, to challenge Monsanto Co.’s lead in sales.