Nutritional science for mind health products
DSM Nutritional Products
Operating profit at Archer Daniels Midland (ADM) dropped further in the third-quarter, down 5 per cent from last year's quarter to $242,000,000, despite improved results in its corn processing business.
The decline was again attributed to the soybean activities, with weak North American and European oilseed crush margins.
For the period ended March 31, the Illinois-based firm reported net income of $116.8 million compared with $117.2 million a year earlier, although sales in the quarter did rise 52 per cent to $7.91 billion.
Improved selling prices and volumes boosted the corn processing results, but operating results in agricultural services and wheat processing fell due to adverse crop conditions. Cocoa and bioproducts operations improved.
ADM is currently trying to make inroads in the health ingredients market, with a line of specialty food ingredients and nutraceuticals, including vitamin E and sterols, and a new cholesterol-lowering cooking oil, Enova.