Demand for meat drives Cargill profits
Cargill, the US’s biggest private company, has made its largest profit in six years thanks to high consumer demand for meat.
The company’s protein business was the biggest contributor to its $3.04 billion adjusted earnings for the year ending 31 May, up 85% from $1.64 billion in the previous financial year. Net profit was $2.84 billion.
David MacLennan, chief executive, attributed the strong result to a two-year restructuring effort and favourable market.