Cargill earnings rise 34% to $662 million
In the first six months of fiscal 2007, Cargill earnings were $1.16 billion, up 16% from $999 million in the first half a year ago.
The increase originated from the two Cargill businesses: global origination
and processing and risk management and financial. The food ingredients and
applications business posted a modest increase from a year ago, while
agriculture services did not keep pace with last year’s strong performance,
Cargill said.
Invest in core business
Cargill continues to
invest in its core businesses. In January, the company announced plans to
purchase LNB International Food, a maker of animal nutrition premix products,
with manufacturing operations in Poland, Romania and Suriname and sales offices
in Holland and Russia.
In addition, the company has begun construction of an
animal nutrition facility at its processing complex in Efremov, Russia, where it
produces corn sweeteners. Cargill also purchased a soybean crush facility in
China and is completing construction of an edible oil refinery at the same
site.
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