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Cargill Net Earnings Double
NEW YORK - Jan 11/05 - SNS -- Cargill reported net earnings of $1,012 million for the second quarter ending November 30 of its 2005 fiscal year, nearly double the $518 million reported during the same quarter the previous fiscal year.
This lifted net earnings for the first half of the 2005 fiscal year to $1,507 million, compared to $865 million during the same period in fiscal 2004.
Cargill said these results included earnings from continuing operations of $956 million, which included a one-time, noncash net gain of $597 million related to the formation of The Mosaic Company. The company also earned $56 million from discontinued operations.
Excluding the gain, Cargill's second-quarter net earnings were $415 million. Last year's second quarter included an unrelated special item. Excluding the special items in both periods, Cargill's second-quarter 2005 net earnings were up 3% from a year ago.
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