(Reuters) - ADM has been boosted in the past year by demand for
alternative foods made from crops. But higher corn costs and
lower ethanol volume cut profit in its corn processing business
during the quarter, while oilseed processing profit was hurt by
lower European rapeseed and biodiesel margins, the company
said.
The largest U.S. food processor and ethanol producer, ADM
said earnings rose to $954.8 million, or $1.47 per share, in
the fiscal fourth quarter ended June 30, from $410.3 million,
or 62 cents per share, a year earlier.
Read more at Reuters.com Market News
alternative foods made from crops. But higher corn costs and
lower ethanol volume cut profit in its corn processing business
during the quarter, while oilseed processing profit was hurt by
lower European rapeseed and biodiesel margins, the company
said.
The largest U.S. food processor and ethanol producer, ADM
said earnings rose to $954.8 million, or $1.47 per share, in
the fiscal fourth quarter ended June 30, from $410.3 million,
or 62 cents per share, a year earlier.
Read more at Reuters.com Market News
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