Agricultural chemicals and seeds supplier Nufarm wants to boost its presence in Asia.
Nufarm acting chief executive Greg Hunt says Asia is a work in progress for Nufarm.
Nufarm has strong market positions in Indonesia and Malaysia but is too narrowly focused on plantation crops.
"Therefore, we need to diversify into other segments and strengthen our presence in other regional markets in order to grow earnings in the region in a meaningful way," Mr Hunt said on Wednesday.
"To that end, investments are being made in new product developments that will allow us to build portfolios to address the rice and vegetable segments.
"And we have opened offices in both Vietnam and South Korea to support sales of Nufarm-branded products in those markets."
Nufarm on Wednesday reported a 23 per cent lift in net profit for the six months to January 31 to $23.2 million.
Asia generated just seven per cent of Nufarm's revenues from crop protection products in the first half of the company's fiscal year.
Nufarm said it is well placed to lift full year profit and is positive about its major markets as long as the weather is favourable.
The group's earnings are more weighted to the second half.
The weather in Australia over February and March had been more favourable than at the same time last year, although Western Australia still needed good rain to drive sales demand ahead of the crop planting period.
In Brazil, where sales in the second half of the year are generally smaller, low incidences of insects and disease would reduce crop protection requirements in the second half.
Nufarm said a more normal spring season in the US would drive an earnings recovery in the North American business.
The European business was expected to have a slightly stronger second half than in the previous year given normal seasonal conditions.
Nufarm said that in the first half, conditions had been challenging in Australia and Brazil, but all major crop protection regions grew earnings.
The Australian business was affected by hot, dry weather in Queensland and NSW, but rain in December and January generated strong demand late in the reporting period.
Brazil experienced a dry start to the season, and lower crop prices contributed to a fall in crop protection sales.
Revenue from Nufarm's seed technologies business fell by more than 20 per cent, but growth is expected for the full year.
The seeds business was partly affected by limited summer sorghum and sunflower plantings in Australia because of dry conditions, and competition in the China sunflower market.
Shares in Nufarm closed 18 cents lower at $6.76.
NUFARM LIFTS PROFIT DESPITE TOUGH MARKET
* First half net profit of $23.2m, up 23 pct, from $18.8m
* Revenue of $1.2b, up four pct, from $1.1b
* Unfranked interim dividend of four cents a share, up from three cents.
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