E-Malt.com News article: 2039

USA: Operating profit of Cargill, Inc. in the second quarter ended Nov. 30 increased 62% to US$513 million, the company said on January 13, World-Grain.com writes. Results included special items of US$117 million in the recently completed quarter and US$31 million a year ago. Excluding those items, operating results increased 39%.Net earnings in the quarter totaled US$518 million, compared with $314 million in the same period a year ago. Earnings included a US$5-million realization from discontinued operations.

"Operating in often volatile markets, the Cargill team delivered one of our company’s strongest operating performances," said Warren Staley, chief executive officer. "The majority of our business units contributed to the company’s earnings growth, which shows the collaborative strength we are gaining as we focus on leveraging Cargill’s global knowledge and experience to help our customers succeed."

Staley also mentioned the company's global grain, oilseed, cocoa and starch and sweetener businesses as strong contributors in the quarter. During the quarter, Cargill completed the previously announced acquisition of OCG Cacao, marking the company’s first significant investment in chocolate manufacturing in Europe.



16 January, 2004