July 30, 2004

Corn Products International's Profit Up 62%
 

Corn Products International Inc., one of the world's largest corn refiners, said second-quarter profit rose 62 percent, helped by higher sales and margins.

The Westchester, Ill.-based company said net income rose to $29.5 million or 79 cents per share, from $18.2 million or 50 cents per share, a year earlier. Profit included 7 cents per share from a change in the company's tax rate, Corn Products said.

Corn Products also stated it now expects 2004 profit per share to rise 21 percent to 26 percent from last year's $2.11. This is up from its prior forecast for a 12 percent to 17 percent increase. The new forecast suggests a profit of $2.55 to $2.66 per share.