BusinessWeek reports tjat agribusiness conglomerate Cargill Inc. said its fiscal first-quarter earnings fell 66 percent amid a volatile global grain market. The company said its net income from continuing operations for the quarter ended Aug. 31 was $236 million, down from $693 million during the same period last year. Revenue jumped 34 percent during the quarter to $34.6 billion.
Cargill is a privately held company that doesn't report its results in the same level of detail as publicly traded firms. The company is involved in almost all aspects of agribusiness, from raising livestock to processing and shipping crops and food ingredients.
The company said its first-quarter net income was also hurt by a tough comparison. Last year…
Find out more at http://www.businessweek.com/ap/financialnews/D9Q9FVOO1.htm
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