Cargill earnings up for 4Q, fiscal 2008
The company said that it earned $744 million in the 2008 fourth quarter ended May 31, up 18 percent from $628 million. For the full fiscal year, Cargill earned $3.64 billion from continuing operations, a 55 percent increase from $2.34 billion a year ago.
“Cargill posted a record financial performance in a year of exceptionally strong commodity demand, market turbulence and price risk,” said Greg Page, Cargill chairman and chief executive officer. “By bringing to bear our business diversity, the full capacity of our global assets, strong risk management and a significant increase in capital deployed, we operated successfully in the most volatile agricultural and energy markets in decades.”
Revenues for the full year rose 36 percent to $120.4 billion. Cash flow from operations increased 77 percent to $7 billion, according to Cargill.
Source: Cargill Inc.