August 22, 2007

Cargill 4Q earnings rise 75 percent to US$628 million

Cargill Inc. Tuesday (August 21) said its fiscal fourth-quarter earnings rose 75 percent to US$628 million from US$358 million in the year-earlier period.

The Minneapolis-based provider of food, agricultural and risk-management products and services said all five business segments exceeded the prior year's earnings performance. Among the five, the risk-management and financial, industrial, and food ingredients and applications segments were the largest contributors to fourth-quarter earnings.

For the fiscal year, Cargill earned US$2.34 billion, up 36 percent from US$1.73 billion a year ago. Revenue for the year rose 17 percent to US$88.3 billion.