US corn refiner and food ingredient firm Corn Products International has reported rises in sales for the second quarter and first half ended 30 June 2005, but income was down.

Net sales for the second quarter were $596.2m, compared with $572.0m in the same period last year. Net sales for the first half were $1.163bn, compared with $1.122bn last year.

Net income for the second quarter was $26.5m, compared with $29.5m in the year earlier period. Net income for the first half was $43.0m, compared with $55.2m last year.

"Our Company rebounded from a difficult start in 2005 to post stronger results for the second quarter," said Sam Scott, chairman, president and chief executive officer of Corn Products International. "Volumes increased by more than 3% over the same period in 2004. Margins and operating income -- although lower than the same period last year -- showed marked improvement over this year's first quarter."

"Our second-quarter results represent a significant turnaround from the first quarter," said Sam Scott. "Looking forward, we anticipate a stronger second half of 2005, during which we expect the business to continue to grow and our earnings to continue to improve."