US agro-chemical and seed company DuPont has reported a 7% increase in operating profits from its agriculture division, to just under $1.8bn, for its 2016 financial year. Profit margins within DuPont’s agriculture business increased 170 basis points in 2016, to a very strong 18.5%. DuPont said cost savings within the division and lower product costs were the main drivers of the improved result.

Turnover from agrichemical and seed sales declined 3% in the year, to $9.5bn, following a 1% decline in sales volumes and a 2% negative currency translation.