ADM Profits Soar

NEW YORK - Aug 1/06 - SNS -- Archer Daniels Midland reported net earnings of U.S. $410 million on sales of $9,547 million during the fourth quarter ending June 30, compared to a net of $195 million on sales of $9,424 million during the same three-month period of the previous fiscal year.

This lifted net earnings for the full fiscal year to $1,312 million on sales of $36,596 million, compared to a net of $1,044 million on sales of $35,944 million the previous fiscal year.

Oilseeds Processing operating profit increased $121 million to $195 million for the quarter and increased $254 million to $598 million for the year as improved market conditions resulted in increased operating results in all geographic areas.

Corn Processing operating profit increased $169 million to $286 million for the quarter as Sweeteners and Starches earnings increased $20 million to $112 million and Bioproducts earnings increased $149 million to $174 million. For the fiscal year, Corn Processing operating profit increased $347 million to $877 million as Sweeteners and Starches earnings increased $160 million to $432 million and Bioproducts increased $187 million to $446 million.

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