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Cargill posts 77 percent gain in net income

BF Background copyCargill, Inc. posted a 77 percent gain in net income for the second quarter, following the sale of its US pork business earlier this year.  Earnings in the three month period that ended November 30 were nearly $1.4 billion compared to more than $780 million for the same time last year.

Cargill has been in the process of reshaping its business portfolio.   The company completed the sale of its US pork business to Brazil’s JBS SA, purchased a salmon-feed producer, it also purchased the chocolate business from ADM, and most recently sold off its crop-insurance business in December.

In November, Cargill Chairman and CEO David MacLennan announced a new leadership team responsible for the company’s strategic direction and the performance of its business segments.

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