USA: Cargill reports fourth-quarter and fiscal 2005 earnings
Cargill reported on August 23, net earnings of $230 million for the 2005 fourth quarter ended May 31, up 18 percent from $195 million in the same period a year ago.
For the 2005 fiscal year, the company earned $2.1 billion, which included a noncash net gain of $578 million realized in the second quarter. Excluding the one-time gain, Cargill’s 12-month net earnings were $1.53 billion, up 15 percent from $1.33 billion a year ago.
Revenues for the full year rose 13 percent to $71.1 billion. Cash flow from operations increased 7 percent to $3.2 billion.
“Backed by strong performance across our diverse business and geographic operations, Cargill delivered increased earnings in fiscal 2005,” said Warren Staley, Cargill chairman and chief executive officer. “Today’s results are a tangible sign of the progress achieved in our company’s strategy to become a recognized leader in creating food and agricultural solutions that help customers succeed.”
Fiscal 2005 was a year of expansion for Cargill, especially in emerging markets. The company is adding to its oilseeds operations in Argentina, Brazil, China, India, Romania, Russia and Ukraine.
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