Cargill today (19 August) posted a 55% increase in earnings from continuing operations, which rose to US$3.64bn for the full year.
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During the third quarter the company booked a $310m gain on the sale of discontinued operations during the fourth quarter, bringing net earnings for the fiscal to $3.95bn.
Revenues for the full year rose 36% to $120.4bn. Cash flow from operations increased 77% to $7bn.
“Cargill posted a record financial performance in a year of exceptionally strong commodity demand, market turbulence and price risk,” said Greg Page, Cargill chairman and chief executive officer.
“By bringing to bear our business diversity, the full capacity of our global assets, strong risk management and a significant increase in capital deployed, we operated successfully in the most volatile agricultural and energy markets in decades. Despite tight stocks of many agricultural commodities, we maintained reliable supply chains for our customers and created value-adding solutions.”
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