ADM Profits Slump 31%

NEW YORK - Oct 28/05 - SNS -- Archer Daniels Midland reported pretax earnings of U.S. $273.7 million on sales of $8,626.9 million during the first quarter ending September 30, compared to pretax earnings of $395.9 million on sales of $8,972.1 million during the same three month period last year.

Discussing the results, ADM argued, "Segment operating profit for the quarter ended September 30, 2005 increased $12 million to $351 million as operating profit improvements were realized in all major segments except Agricultural Services."

Oilseeds Processing operating profit increased $8 million to $99 million for the quarter as improved South America, Europe and Asia operating results were partially offset by decreased operating results of our North America operations.

Corn Processing operating profit increased $33 million to $136 million for the quarter due principally to lower net corn costs partially offset by lower lysine selling prices and higher energy costs. Sweeteners and Starches results increased $37 million to $92 million for the quarter due principally to lower net corn costs partially offset by higher energy costs.

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