Cargill Profits Rise 2%

NEW YORK - Oct 14/05 - SNS -- Cargill reported net earnings of $504 million for the 2006 first quarter ended Aug. 31, up 2% from $495 million a year ago.

The company's first-quarter earnings were led by its risk management and financial segment, especially value investing activities. Other large contributors included the origination and processing segment, which connects users and producers of grains, oilseeds, sugar and other commodities, and its animal nutrition, poultry processing and corn-based sweeteners businesses, all of which operate worldwide. Results also included a gain on the sale of Cargill's futures brokerage business.

Cargill completed its purchase of the processing and related assets of Ontario-based Better Beef in early September. It is being integrated into Cargill's meat solutions business, which serves both domestic and international markets. The terms of the acquisition were not announced.

Cargill's agreement to purchase Degussa Food Ingredients, a business unit of global specialty chemicals company Degussa, was announced on Sept. 9. Degussa Food Ingredients is a provider of texturizing and flavor ingredients and solutions to the food and beverage industries.

Subscribers can read the full text of the article by Clicking here