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Cargill profit jumps on strong beef, turkey demand
January 10, 2017 / 2:47 PM / a year ago

Cargill profit jumps on strong beef, turkey demand

Jan 10 (Reuters) - Global commodities trader Cargill Inc on Tuesday reported a sharply higher adjusted quarterly profit led by strong results from its beef and turkey businesses in North America.

In the second quarter ended Nov. 30, Cargill’s adjusted operating earnings jumped nearly 80 percent to $1.03 billion, from $574 million in the same quarter a year earlier.

Quarterly net income including one-time items fell to $986 million from $1.39 billion a year earlier, when sales of Cargill’s U.S. pork business and a steel mill bolstered results.

Revenue slipped to $26.9 billion from $27.3 billion in the same quarter a year ago. (Reporting by Karl Plume in Chicago; Editing by Meredith Mazzilli)

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