Cargill’s profits plummet but beef division fares well
13/08/2014
Revenues declined 1% to $134.9 billion.
“Cargill plays an important role in helping to feed a growing world, and that inspires us to continuously improve performance,” said David MacLennan, Cargill’s chief executive.
“Though we look back on a year in which overall earnings fell short of expectations, we realised stronger operating results in several businesses including a turnaround in our global beef operations.
We also made good progress on moves designed to sharpen efficiency and support profitable growth in fiscal 2015 and beyond.”
Among Cargill’s four segments, earnings rose significantly in Animal Nutrition & Protein – which includes beef – boosted by increased operating efficiency, good cattle feeding results in North America and brisk exports of Australian beef.
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