SICIT celebrates “brilliant” H1 with growth of almost 10%
Specialist fertiliser producer SICIT has reported revenues of €35.5 million for the first half of 2020, which represents growth of 9.4%.
The group, which uses residues from the leather manufacturing sector to make amino acid- and peptide-based fertilisers, said this part of its business, its bio-stimulants division, had grown by 19.4% over the six-month period.
SICIT argues that its bio-stimulants are experiencing “sustained demand” because they improve the absorption of the nutrients contained in fertilisers, reduce the use of agro-pharmaceuticals in farming, thus avoiding degradation of the soil, increase production and harvest quality and help crops resist drought, heavy rain, frost and other conditions.
The group also produces retardant products for the building industry and animal fat for biofuels. It said these two divisions had slowed in the first half owing to covid-19, but only slightly.
On announcing the results, SICIT chief executive, Massimo Neresini, said growth of 9.4% in the first half was “a particularly brilliant result, considering the times we are living in”.
