US Cargill Q2 earnings quadruple to $409m, sales rise by 6%

09 January 2013 16:25  [Source: ICIS news]

HOUSTON (ICIS)--Cargill’s fiscal 2013 second-quarter net earnings rose to $409m (€311m) from $100m in the same period a year ago, as sale increased by 6% year on year to $35.2bn, the US-based international agribusiness group said on Wednesday.

Cargill said that earnings rose in four of its five business segments in the three months ended 30 November 2012.

"The steps we've taken over the past months to focus attention on what our customers value most, change how we work, instill more cost discipline and invest in growth are paying off in the current year,” said CEO Greg Page.

Page added that Cargill has large projects worth $2.4bn under construction in 13 countries to further strengthen its market positions.

Cargill’s capital investments are weighted toward new, expanded and modernised facilities, rather than acquisitions, he said.

($1 = €0.76)

By: Stefan Baumgarten
+1 713 525 2653

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