Cargill’s 2nd Quarter Earnings Up 44%
22 January 2008 In an improvement of more than 40% from last year, Cargill has posted net earnings of US $954 million for its second quarter results. Cargill – a privately-held US-based agricultural firm – explained that the growth was carried by seven years of heavy investment totaling more than $18 billion. During this period, the company’s sales have consistently gone up.
Four of the company’s five business segments posted increased earnings compared to second quarter last year. Its Origination and Processing segment was responsible for the majority of the increase, with its Industrial, Food Ingredients and Applications, and Agriculture Services segments also demonstrating “improved performance.”
Cargill Chairman and CEO Greg Page said: “Strong fundamentals are driving volume and volatility in global agriculture today. Cargill is in position to benefit from these forces because of our past investments, our risk management and our commitment to creating shared value with customers.”
Also released were Cargill’s six month results, which show the company earned $1.87 billion – a 61% increase over last year.
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