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Cargill profit fails to grow under shade of global economy

Trouble arrived on Cargill‘s doorstep during the last quarter.

That’s how CEO Greg Page described the company’s 68 percent plunge in net earnings for the three months ending Feb. 28.

“Cargill’s earnings turned down in the third quarter, as the troubles in the global economy and financial system arrived at our company’s doorstep,” Page said in the company’s statement.

Cargill reported net earnings of $326 million for the quarter, down from the $1.03 billion it made during the same period last year. The decline affected all five of the company’s business segments.

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