ADM: posts rise in second-quarter profits

Decatur / IL. (adm) «ADM´s record earnings for the second quarter and first half of fiscal 2008 demonstrate the value created by and the strengths of our broadly diversified asset base and product portfolio», said Patricia Woertz, chairman and CEO. «This quarter, heightened demand, coupled with geographic crop imbalances, drove volumes, prices and volatility in many key markets». In short: Food ingredients giant Archer Daniels Midland (ADM) booked a seven percent rise in net earnings to 473 million USD for its Q2/2008. From October to December ADM saw net sales jump 50 percent to 16,5 billion USD and the company pointed to «sharp rises» in commodity prices.

Archer Daniels Midland Company (ADM) is the world leader in BioEnergy and has a premier position in the agricultural processing value chain. ADM is one of the world´s largest processors of soybeans, corn, wheat and cocoa. ADM is a leading manufacturer of biodiesel, ethanol, soybean oil and meal, corn sweeteners, flour and other value-added food and feed ingredients. Headquartered in Decatur, Illinois, ADM has over 27.000 employees, more than 240 processing plants and net sales for the fiscal year ended June 30, 2007 of 44 billion USD.
Info: https://www.admworld.com/global/pressroom/viewpdf.asp?id=495