Wednesday, July 23, 2008

DuPont Posts Big Earnings Thanks to Agriculture

Agri-Business giant posted big earnings this week:

The Wilmington, Del.-based company's profit for the quarter was $1.07 billion, up from $972 million during the same quarter last year, pushed largely by a 23% increase in agriculture and nutrition sales stemming from strong global demand for DuPont's corn, soybean and crop-protection products.

But the company said it expects earnings per share for the second half of 2008 to be "modestly lower" than last year because of increased energy and ingredient costs.

With this growth in the agriculture part of their business, DuPont is going deeper into agriculture:

The company, which has interests in chemicals, agribusiness, construction, communications and transportation, made moves during the quarter to delve deeper into agriculture. In May, DuPont teamed up with Danish biotech leader Danisco A/S to develop ethanol from non-food plant sources. See full story.

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