The Rising Influence of Rising Affluence

[DewDiligence]

SYT misses 4Q13 consensus; 52% of sales came from emerging markets:

http://www.cnbc.com/id/101387345

Syngenta, the world's largest agricultural chemicals group by sales, reported full-year earnings below analysts' expectations Wednesday and outlined plans to cut costs.

Full-year sales were $14.7 billion in 2013, up 3 percent from the previous year but below forecasts of $14.824 billion in a Reuters poll of analysts. Net profit for the year was $1.644 billion, also below forecasts of $1.706 in the Reuters poll.

Mack was unconcerned by the company's exposure to emerging markets -- 20 percent of its sales are in Brazil -- despite the turmoil in emerging economies and currency depreciation on the back of tapering by the U.S. Federal Reserve.

"The emerging markets have been a source of our growth. Fifty-two percent of our sales now are in emerging markets and these have powered our revenues up. We've had exposure all along, we've been here before with Brazil and Argentina," he said.