US agribusiness giant Cargill has posted lower quarterly net profit, but said its food ingredients and poultry processing units showed an improved performance.
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The company reported net earnings of US$347m for the first quarter to 31 August, compared to $591m a year earlier. Earnings from continuing operations, however, rose to $348m from $345m in the year-ago period.
Minneapolis-based Cargill said other large contributors to its earnings included the animal feed sector, beef processing operations and sweeteners operations.
