Monsanto income jumps in quarter

by FoodBusinessNews.net Staff
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ST. LOUIS — Monsanto posted income of $1,129 million for the second quarter of fiscal 2008, up significantly from $543 million during the same quarter of the previous year. Sales for the quarter were $3,779 million, up 45% from $2,609 million during the same quarter of the previous year.

"The performance of our seeds and traits business has us on track for another exceptional year and well positioned to support our five-year strategic growth plan," said Hugh Grant, chairman, president and chief executive officer. "Between now and 2012 we are the only agriculture company that can point to consistent growth irrespective of commodity price swings, fluctuations in planted acres or the popularity of ethanol. Over the next five years we’re poised to set the bar higher as we deliver a game changing platform every other year, real products that create real value for the farmer and for our shareowners."

For the six months, Monsanto posted income of $1,385 million, up significantly from $633 million during the same period of the previous year. Sales for the six months were $5,878 million, up 41% from $4,148 million during the same period of the previous year.

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