Global grain trading company Cargill reported its third-quarter results for this year. The company’s operating profit for the quarter was $715m, a 50% rise on the same period last year.
US agribusiness giant Cargill recorded a 50% rise in third-quarter operating profits.
ADVERTISEMENT
The agribusiness giant, which operates in the areas of food, agriculture, finance and industry, recorded positive results across all four sectors, with a 55% gain on its combined nine-month earnings also being achieved.
The animal nutrition and protein division was one of the largest contributors to profits. Increasing consumer demand for beef, combined with improved processing yields and fresh sales of chicken in Europe spearheaded a strong performance for proteins against a weak comparative period.
Cargill, which employs 150,000 people, has also agreed to a number of sales which are due to be completed in the fourth quarter. Its 40% share in Allied Mills Australia, a flour milling venture, looks set to be sold to a Sydney-based private equity firm, while its petroleum trading business is set to be purchased by Australia’s Macquarie group.
ADVERTISEMENT
Register for free to read this story and our free stories.
This content is available to digital subscribers and loyalty code users only. Sign in to your account, use the code or subscribe to get unlimited access.
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
CODE ACCEPTED
You have full access to the site until next Wednesday at 9pm.
CODE NOT VALID
Please try again or contact support.
The agribusiness giant, which operates in the areas of food, agriculture, finance and industry, recorded positive results across all four sectors, with a 55% gain on its combined nine-month earnings also being achieved.
The animal nutrition and protein division was one of the largest contributors to profits. Increasing consumer demand for beef, combined with improved processing yields and fresh sales of chicken in Europe spearheaded a strong performance for proteins against a weak comparative period.
Cargill, which employs 150,000 people, has also agreed to a number of sales which are due to be completed in the fourth quarter. Its 40% share in Allied Mills Australia, a flour milling venture, looks set to be sold to a Sydney-based private equity firm, while its petroleum trading business is set to be purchased by Australia’s Macquarie group.
If you would like to speak to a member of our team, please call us on 01-4199525.
Link sent to your email address
We have sent an email to your address. Please click on the link in this email to reset your password. If you can't find it in your inbox, please check your spam folder. If you can't find the email, please call us on 01-4199525.
ENTER YOUR LOYALTY CODE:
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
SHARING OPTIONS