MINNEAPOLIS - Cargill Inc.'s earnings rose 38 percent in the fourth quarter and its meat business strengthened, after trade was disrupted due to one case of mad cow disease in the United States and the outbreak of avian influenza in Asia.

The company on Tuesday reported earnings of $195 million in the three months ended May 31, compared to $141 million for the same period a year ago.

Net earnings for fiscal year 2004 were $1.33 billion, up from $1.29 billion in 2003. Earnings from continuing operations were a record $1.28 billion for the year, an increase of 24 percent from $1.03 billion a year ago.

Revenues for the full year rose 16 percent to $62.9 billion.

"Cargill delivered a record performance in a year when markets, customers' needs and consumers' preferences were in an extraordinary state of flux," said Warren Staley, chairman and chief executive officer, in a statement. He said the company's ability to manage price volatility and trade uncertainty was critical.

Staley said Cargill's operating earnings for the year were bolstered by its food ingredient, grain and oilseeds, animal nutrition, risk management and financial businesses. Cargill does not release revenue totals or results for individual units.

Cargill, one of the world's largest privately owned companies, processes, sells and distributes agricultural, food, financial and industrial products. The company has about 101,000 employees in 59 countries.

View All News