Cargill Reports Net Profit on Special Gains; Revenue Declines
Global commodities trader Cargill Inc on Wednesday posted a quarterly net profit because of special gains, and its revenue dropped.
The privately held company reported net income of $15 million for the fourth quarter ended May 31, compared with a net loss of $51 million a year earlier.
Excluding items such as inventory adjustments and gains or losses from sales of assets, the company posted an operating loss of $19 million, compared with a year-earlier profit of $230 million.
Revenue fell 5 percent to $27.1 billion.
(Reporting by Karl Plume in Chicago)
