Cargill reported a 20 percent increase in quarterly profit on October 7, boosted by strong results from its grain and oilseed origination and processing unit.
The company reported net earnings of $512 million for the fiscal first quarter ending August 31, compared with a profit of $425 million a year earlier. Revenue was down 17 percent to $27.5 billion, compared with $33.3 billion from a year ago.
In August, Cargill reported a net loss of $51 million in the fiscal 2015 fourth quarter ended May 31, 2015, compared with earnings of $376 million in the same period a year ago. Fourth-quarter revenues were $28.4 billion, compared with $36.2 billion in the year-ago period.
Cargill is ranked as the world’s #2 feed producer in WATTAgNet’s World’s Leading Feed Producers directory, with 19.5 million metric tons of production and 250 feed mills in 2014.
In September, David W. MacLennan was named Cargill’s chairman of the board, in addition to his roles as president and CEO.
In August, Cargill said it would invest $200 million for feed manufacturing and chicken-growing operations in the Philippines this year, and that it would acquire EWOS, a global leader in salmon nutrition for EUR1.35 billion (US$1.5 billion).