April 10, 2008

CHS reports record earnings of US$468.9 million

CHS Inc. announced on April 9 of record earnings of US$468.9 million for the first half 2008, an increase of 113 percent from US$220.1 million.

Total revenues for the first two quarters of fiscal 2008 (September 1, 2007 to February 29, 2008) were US$13.4 billion, up 79 percent from US$7.5 billion for the same period of 2007.

CHS attributed the revenue increase to record prices for the grain, refined fuels and crop nutrients products CHS markets.

Net income for the December 1, 2007 to February 29, 2008 was US$168 million, up 101 percent from US$83.7 million in the second quarter of fiscal 2007.

Revenues for the quarter were US$6.9 billion, up 86 percent from US$3.7 billion the previous year.

CHS said earnings through the second quarter reflect record results for the company's Ag Business segment, including grain marketing, crop nutrients and retail operations, and were driven largely by strong global prices and demand.