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Food & Beverage

Cargill Earnings Slip on Food Ingredients

August 09, 2011
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According to MarketWatch, Cargill Inc. said Tuesday that fourth-quarter earnings slipped 7 percent on weakness in its food ingredients segment and energy trading. The company reported earnings for the quarter ended May 31 of $404 million, down from $435 million during the same period a year ago. Revenues for the privately held company totaled $34.8 billion, up 32 percent from a year ago. The company, which operates businesses throughout the agribusiness chain, did not break out earnings in specific segments, but noted a “softer” fourth quarter in its food ingredients and applications segment. Segment earnings were up from a year ago, however. Cargill also said earnings declined in its risk management and financial segment, which includes trading of coal, petroleum and natural gas.
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