DuPont Co. on Wednesday said it expects its agriculture and nutrition business to deliver 10 percent revenue growth and 20 percent pretax operating income growth in 2007.
The company also said it still expects 2007 earnings of $3.15 excluding one-time items.
The growth fundamentals in seed markets around the world are outstanding; as a result, we are accelerating growth investments, said Erik Fyrwald, head of DuPont's agriculture and nutrition segment, in a statement.
In December last year, DuPont announced plans to invest about $100 million in 2007 to grow its seed business, while generating savings of $100 million by restructuring its crop protection and nutrition businesses.
Fyrwald said DuPont Agriculture & Nutrition should generate savings of about $20 million of the $100 million target late in 2007.
DuPont expects to realize $40 million in savings in 2008 and the remaining $40 million in savings in 2009.
Shares of DuPont were up 64 cents to $47.80 in afternoon trade on the New York Stock Exchange.