During the first quarter of the current fiscal year Cargill’s revenue (29 billion USD) remained stable (+1%). During the period that closed on august 31st 2019, the US food business grew its operating income by 3% (908 million USD), while net profits fell by 10% (915 million).
The strength of red meat
The results published by Cargill also show that among the best performing divisions is that of Animal Nutrition & Protein. The group can thank the strategy used to approach the North American market, where demand is growing, while the Latin American one, most of all Argentina, didn’t perform as well, due to the general unrest.
The CEO’s comment
The challenge now, is to continue on a path of efficiency. “We are focused on modernizing all operations – states Dave MacLenna, president and CEO of the US company -, so that we may supply our clients more useful solutions”.